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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.

MOSCOW, Septmber, 4. /RusEnergy/. Oil company RussNeft intends to increase oil production up to 20 mln tons annually. Regnum quoted company’s president Mikhail Gutseriev as saying this to journalists after the inauguration of the 6th joint session of Russian-Arab Business Council in Saint-Petersburg. He says a 5 year’ programme of company’s development foresees $1.5 bln investments into producing infrastructure of the company.

For 7 months of 2006 production at ZAO Sobolinoye has been over 250 thousand of oil. These figures are the result of hard work. Though Oil and Gas Company RussNeft’s subsidiary is younger than two years old, the indicators, achieved in production and social area over this time are impressive. Around 800 thousand tons of oil are produced. Major part of production construction is fulfilled, around 10 thousand metres of deep wells are drilled, 4 new wells were put into operation, 4 are output from conservation, and total overhaul of 27 wells is fulfilled. Thanks to geological and engineering operations around 120 thousand tons of oil are produced additionally. The geological and engineering operations fulfillment resulted in a 7.2 million ton increment of oil reserves. Formidable amounts of funds are allocated to environmental measures, welfare programmes, charity. Despite of all the difficulties of the planned production decrease and severe winter, the company continues operating and is