Russian oil major Rosneft (ROSN.RS) plans to significantly increase its oil output and geological exploration in 2010-11, the company's President Sergei Bogdanchikov told reporters Friday, Prime-Tass news agency reports.
Bogdanchikov said earlier in the day that the company expected its oil output to increase 2% on the year to 112.3 million metric tons in 2009.
The company plans to start exploration drilling on the Black Sea shelf in 2010 and may invite foreign companies to take part in the project, Bogdanchikov also said.
Speaking about the company's operations on the Caspian Sea shelf, Bogdanchikov said that the company wasn't disappointed with the results. Rosneft earlier drilled two wells at the Kurmangazy deposit, which gave no commercial hydrocarbon flow.
Bogdanchikov also said Rosneft was interested in developing its cooperation with Italian energy company Eni SpA (E). The companies could carry out joint projects in Africa, he said. In addition, Rosneft is interested in technologies of Eni's subsidiary Saipem.
Speaking about the Yurubcheno-Tokhomskoye oil field in the Evenkia Autonomous District, Bogdanchikov said that Rosneft planned to ship oil produced at the field through the East Siberia-Pacific Ocean pipeline. The company plans to start oil production at the field in 2013. The maximum annual oil output at the field is projected at 10 million tons.
The company plans to spend 3 billion rubles ($96.5 million) this year and RUB25 billion next year on the development of the field.