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Rosneft to Increase Capex by 20% in 2014, up to $21 Bln - CEO

© RIA Novosti . Ilya Pitalev / Go to the photo bankRosneft to Increase Capex by 20% in 2014, up to $21 Bln - CEO
Rosneft to Increase Capex by 20% in 2014, up to $21 Bln - CEO - Sputnik International
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In 2014 Russia’s largest oil company, Rosneft, is planning to increase its capital investment program by 20 percent to 730 billion rubles ($21.6 billion), as its projects in Eastern Siberia and in the Far East reach active stages, the company’s CEO Igor Sechin said Friday.

KHABAROVSK, June 27 (RIA Novosti) – In 2014 Russia’s largest oil company, Rosneft, is planning to increase its capital investment program by 20 percent to 730 billion rubles ($21.6 billion), as its projects in Eastern Siberia and in the Far East reach active stages, the company’s CEO Igor Sechin said Friday.

“As the projects in the Eastern Siberia and in the Far East are entering an active phase of implementation, capital investment will increase by about 20 percent against last year to 730 billion rubles ($21.6 billion),” Sechin said.

The largest investment is to be for the development of an oil and gas cluster in the Vankorsky fields in Eastern Siberia. In the Far East, Rosneft is constructing a large refinery in Primorsk Region, and is developing several deposits as part of the Sakhalin-1 project.

Rosneft also has licenses to explore shelves in the Sea of Okhotsk, the Chukchee Sea, the East Siberian Sea, the Kara Sea and the Laptev Sea.

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