"We intend to increase investment in Russia in the long-term perspective," he was quoted as saying.
In particular, the official pointed out that Russia will need some $25 billion to maintain and increase oil extraction.
"It is much money, and foreign borrowings are imminent," Malva stressed.
Russia will enhance its role as a supplier of "black gold" to world markets and remain important for consumer countries, the official aggregated.
"The increase of export from Russia made it possible to stabilize world oil prices," Malva remarked. Also, he stressed that Russia will play a role of the main gas supplier to Europe.
While speaking of cooperation between ConocoPhillips and Lukoil, Malva called it "a paragon of partnership".
According to him, besides exchanging experience in extraction and sale, the companies exchange staff. In general, Malva said he is content with such cooperation.
ConocoPhillips currently owns a 10% stake in Lukoil. The company's managing board says its share in Lukoil will grow larger.
