MOSCOW, June 21 (RIA Novosti) – Russian state oil company Rosneft has sufficient capability to raise its annual oil output to 220 million tons within the next seven years, the CEO said Friday.
In 2012, the company increased output 7 percent to 125.779 million tons from 122.494 million in 2011, according to Russian standards, or 2.7 percent to 122.023 million from 118.747 million, according to international standards.
Rosneft CEO Igor Sechin earlier said this year’s output would be 210-215 million tons, according to different standards.
He also said Friday that Rosneft was planning to invest $200 billion within the next nine years, with 82 percent of investment going into production, 15 percent into processing and 3 percent into services.
