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    1. Drilling & Completion

    Lukoil aims to be a top major operator

    Sept. 6, 2006
    Russia's Lukoil's board of directors has approved a 10-year, $70-billion program aimed at making the company one of the top seven majors, said Valery Golovushkin, company vice president.

    Offshore staff

    SINGAPORE -- Russia's Lukoil's board of directors has approved a 10-year, $70-billion program aimed at making the company one of the top seven majors, said Valery Golovushkin, company vice president.

    Speaking at a conference in Singapore today, Golovushkin said the investment would cover both upstream and downstream growth.

    Lukoil is the top crude oil producer in Russia with 2.14 MMboe/d output, an increase of 11.9% over the first six months of the year. Also this year, Lukoil acquired 95% of OAO Khantymansiyskneftegazgeologia, and all of Paitykh Oil and Nazymgeodobycha.

    9/6/06