Gazprom Neft trusts in new asset for output growth

ST PETERSBURG, Russia, March 15 (Reuters) - Russian oil firm Gazprom Neft (SIBN.MM: Quote, Profile, Research) said on Saturday it did not expect organic growth of oil production this year, although output would raise by 14 percent due to acquisition of a new asset.

Gazprom Neft's (SIBN.MM: Quote, Profile, Research) president Alexander Dyukov told reporters the firm expected its oil production to reach 49 million tonnes (981,300 barrels per day) this year versus 43 million tonnes (863,500 bpd) produced last year.

The increase will be provided by firm's purchase of 50 percent of the 12 million tonnes per year (240,000 barrels per day) oil producer Tomskneft last year from oil major Rosneft (ROSN.MM: Quote, Profile, Research).

Rosneft bought the unit at a state auction to sell assets of bankrupt oil firm Yukos last year.

"We have managed to stop production decline at Tomskneft and are going to stabilise output at 11.5-12 million tonnes per year," Dyukov said adding that slight production increase is possible at the unit this year.

Gazprom Neft, Russia's fifth-largest oil producer, has been fighting declining production since its former owner, billionaire Roman Abramovich, sold the firm, then called Sibneft, to the gas giant in 2005.

Last year's production was flat to the 2006 output.

The company approved last year a development strategy, which envisages production growth to at least 80 million tonnes by 2020.

The firm said earlier this month it would raise capital expenditure by 36 percent to 89 billion roubles for this year to increase stagnating output. (Reporting by Denis Pinchuk, writing Tanya Mosolova)