Lukoil (LUKOH.RS) plans an average growth of 3.5% in hydrocarbon output over the next ten years, the company said in a press release Thursday.

The company also said it plans to invest $48 billion in 2012 to 2014.

Lukoil sees the average price of Brent crude rising from a forecasted $96.2 per barrel 2012 to $108.6 per barrel in 2014, the press release said.

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