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Lukoil Overseas focuses on improving efficiency of existing assets in Kazakhstan

Oil&Gas Materials 21 October 2010 16:47 (UTC +04:00)
Lukoil Overseas Kazakh branch focuses on improving the efficiency of existing projects in the republic, but always ready to consider expansion of its assets, Lukoil Overseas Kazakh branch director Andrei Kirillov said today.

Azerbaijan, Baku, Oct.21 / Trend S. Suleymanov /

Lukoil Overseas Kazakh branch focuses on improving the efficiency of existing projects in the republic, but always ready to consider expansion of its assets, Lukoil Overseas Kazakh branch director Andrei Kirillov said today.

"Today we mainly focus on improving the efficiency of our current projects in Kazakhstan. But we watch closely the market, and if there are interesting offers, then surely we will consider them," Kirillov said.

According to the branch, in the short term, Lukoil plans to invest in the development of existing Kazakh assets about $3.2 billion.

At present, Lukoil Overseas is present in Kazakhstan in seven mining projects - Tengiz, Karachaganak, Kumkol, Alibekmola-Kozhasai, North Buzachi,. Karakuduk and Arman , three exploration projects - Atash, Zhambai and Zaburuniye and one infrastructure project (CPC) in the territory of Kazakhstan.

The Russian company "Lukoil" has started its operations in Kazakhstan in 1995. During its presence in oil and gas market in Kazakhstan the company has invested more than five billion dollars in projects.

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