Moscow. OAO NK RussNeft, one of the top ten major Russian oil companies, intends to increase the oil production by almost 1 million tons in 2012, Mikhail Gutseriev, the founder and a major owner of RussNeft, announced to mass media on Wednesday.
“Production will increase almost by a million tons this year with minimal capital expenses of 500 million (US dollars) including the gas program”, Gutseriev said.
RussNeft produced 13.6 million tons of oil (5.6% growth) in 2011. Based on the number stated by Gutseriev, the indicator may grow up to 7.4% this year. The Company had previously given a more moderate forecast of a 3% growth of up to 14 million tons.
