The company will present a new long-term strategy for the company's development already this spring.
V. Alekperov announced:
- This spring LUKOIL will present a new long-term strategy
- It will meet current challenges
- I will certainly tell you
- how we see the future of global energy,
- what place oil will occupy in the world,
- what we have to do for this
- All calls to abandon oil are senseless, believe me - this time has not yet come
According to it, in the exploration and production segment, LUKOIL sets as its minimum strategic goal the growth of hydrocarbon production by 1% / year.
Over the next 10 years (2018 - 2027) LUKOIL plans an average investment of $8 billion per year at an oil price of $50 per barrel.
LUKOIL's long-term strategy allows the company to develop even at low oil prices.
The company's long-term development strategy focuses on the oil price of $50, which is a very conservative estimate.