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PRIME-TASS – Oil and Gas Company RussNeft’s investment into new fields production and development during 2007-2012 will reach the point of $1.5, company’s president Mikhail Gutseriev announced.

The head and the main owner of RussNeft Mikhail Gutseriev promised yesterday that the company would get $1 bln net profit this year and the level of production will be amounted to 20 mln tons next year. This is a high level but according to experts it is achievable.

Oil and Gas Company RussNeft will invest $1.5 bln into resource base development, oil production and geologic exploration during 2007-2012. This was announced to journalists by company’s president Mikhail Gutseriev. Mr. Gutseriev says that during a few forthcoming years the company expects to increase oil production to 20 mln tons – against 17 mln tons at present. He also singled it out that the company has been preparing investment projects that will be carried out during a few years. The increase of oil production, as Mr. Gutseriev puts it, will be a result of putting into operation new fields of Shapshinskaya Group, Novo-Valuninskoye field, Novo-Aganskoye field.

Saint-Petersburg. September, 4. INTERFAX - Oil and Gas Company RussNeft plans to allocate $1.5 bln to producing base development and geological exploration of holding’s oil fields from 2007 during 5 years on, company’s president Mikhail Gutseriev said on the 6th joint session of Russian-Arab Business Council in Saint-Petersburg on Monday.

SAINT-PETERSBURG, September, 4. /PRIME-TASS/. Oil and Gas Company RussNeft plans to have $1 bln net profit for 2006, company’s president Mikhail Gutseriev told journalists. He participates in the 6th joint session of Russian-Arab Business Council in Saint-Petersburg.