Russia's third-biggest oil producer TNK-BP Holding (TNBP.RS) may invest between $3.4 billion and $3.5 billion in 2010, the company's Chief Financial Officer Jonathan Muir told journalists Wednesday.
"I think that capital expenditure in 2010 will be higher than in 2009, around the level of $3.5 billion to $3.4 billion," Muir told journalists at a conference in Moscow.
He added that the company's business plan is predicated on an average oil price of $60 a barrel next year and an exchange rate of 33 rubles to the dollar.
Muir said that TNK-BP invested $3 billion in 2009.