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BRIEF-Russia's Lukoil strategy budgets oil at $50/barrel
September 23, 2017 / 10:16 AM / in a month

BRIEF-Russia's Lukoil strategy budgets oil at $50/barrel

Sept 23 (Reuters) - Russian energy major Lukoil‘c CEO Vagit Alekperov said on Saturday:

* Lukoil plans budget with oil price of $50 per barrel, forex rate $1=62-64 roubles in 2018-2020;

* Lukoil plans to invest $8 billion-$8.5 billion per year to maintain 100 million tonnes of oil annual output in 2018-2027;

* Lukoil plans to add 1.1 billion-1.2 billion tonnes of hydrocarbon to reserves, to reach gas output of 35-40 billion cubic meters (bcm) per year by 2027;

* Lukoil has no plans to pull out of European projects after new U.S. sanctions;

* Lukoil in talks with Italian ENI on joint projects in Mexico;

* Lukoil CEO will meet Iranian oil minister in Moscow on Oct. 3 to discuss Lukoil’s next projects in Iran;

* Lukoil will invest $3 billion in gas projects in Uzbekistan by 2021-2022;

* Uzbekistan sees its gas output up by 1.5 bcm in 2017 from 55 bcm in 2016, Uzbekneftegaz head said. Further company coverage: (Reporting by Moscow Newsroom; Editing by Edmund Blair)

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