Investment will increase from 55.4 billion rubles ($2.04 billion) in 2005 to 63 billion rubles ($2.32 billion) in 2006 and to over 88 billion rubles ($3.24 billion) in 2007, the Siberian oil company's press service cited General Director Vladimir Bogdanov as saying at an annual shareholders' meeting.
Downstream operations would account for most of investment growth, the company said, attributing this to an ongoing project to build a new deep conversion refinery. With the plant operational, the company's oil-products output is expected to reach 22 million metric tons in 2007, with oil production increasing 5% annually, the company said.
The shareholder's meeting approved 2005 dividends at 0.8 ruble per common share, and 1.05 ruble per preferred share, a 93% increase from the previous year due to high corporate results in 2005, the company said.
Bogdanov said in March that the company posted a $1.5-bln net profit increase last year.
