Russia's biggest independent oil producer, OAO Lukoil Holdings (LKOH.RS), is in talks to acquire upstream assets in Russia and abroad, Interfax news agency reports Friday, citing the company's Chief Executive Vagit Alekperov.
"We have already solved our problems in the downstream segment. Now we're negotiating acquisitions of production units," said Alekperov, without giving details.
Lukoil expects to increase oil production by 2% this year compared with 2008, he added.
Alekperov also said the company will increase production of natural gas in the next few years, on projects in Uzbekistan, Saudi Arabia and Tyumen in Siberia.