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    RUSSIA * LUKOIL * OUTPUT * TARGET

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    LUKoil PLANS TO PRODUCE SOME 87 MLN TONS OF OIL IN 2004

    MOSCOW, February 3 (RIA Novosti) - LUKoil, Russia's largest oil and natural gas producer, has adopted an oil output plan for 2004. The company plans to boost oil output 6-7%, or up to 86.2-87 million tons, the figure being contingent on available and efficient transport capacities, reads the company's press-release.

    LUKoil's affiliated companies based in Russia are to provide 80% of the overall output, while foreign-based affiliates - 20%, according to the plan.

    The company will hit the target through an increase in oil production, possible acquisitions are not taken into account," says the press release.

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