MOSCOW, Jan 22 (Reuters) – Russia's No.2 gas producer expects capital expenditures of 40 billion roubles ($505.1 million) this year, down from 50 billion roubles planned for 2015, Interfax news agency quoted Novatek's Chief Executive Officer Leonid Mikhelson as saying on Friday.
Mikhelson also said that 2015 earnings before interest, tax, depreciation and amortisation (EBITDA) were expected to rise by a third.
He added that natural gas production in 2016 will stay broadly unchanged, while output of liquids, such as oil and gas condensate, will rise by 30 percent.
($1 = 79.1925 roubles)
(Reporting and writing by Vladimir Soldatkin; Editing by Lidia Kelly)
Copyright 2017 Thomson Reuters. Click for Restrictions.
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Most Popular Articles
From the Career Center
Jobs that may interest you