Lukoil to double investment into Ukhta oil refinery to 1 bln roubles in 2016

​Lukoil plans to load the plant by raw materials from the West-Tebuksky deposit, and ship heavy oil from the Yarega deposit to the system of Transneft.

Lukoil plans to double the investment into the oil refinery plant in Komi (Lukoil-Ukhtaneftepererabotka Ltd) to 1 bln roubles in 2016, CEO of Lukoil-Ukhtaneftepererabotka, R. Gimaletdinov, said.

The investment in 2015 exceeded 500 mln roubles. In 2016 we expect a double growth, which is connected with the start of projection of the gas separation unit. In the coming 2 years the standard programs’ realization will go on – energy efficiency rise, ecological safety and mechanic reliability programs, he said.

The volume of oil processing will fall by 11% to 3 mln tons against 2015, which is connected with the shutdown of the plant in May for 35 days for capital repair.

Mr. Gimaletdinov said that the plant shows good results. In the past 2 years the processing efficiency of raw materials rose by 8%. In 2015 we mastered the production of 4 new types of goods. In general in Q1 2016 there are positive results – both financial and production, he said.