Interfax reported that RussNeft plans to invest RUB 18 billion in drilling, capital construction and the gas program in 2011.

The investment is detailed in the company's approved business plan.

RussNeft will spend RUB 10 billion on drilling, RUB 6.1 billion on capital construction and RUB 1.9 billion on the gas program.

Investment in Khanty Mansii autonomous district will total RUB 6.8 billion.

RussNeft fully repaid debt to contractors which totaled RUB 800 million at the start of 2010. The company plans to boost oil production to 18 million tonnes in 2017 up from 12.9 million tonnes in 2010.

(Sourced from Interfax)