Moscow: Gazprom Neft, the oil industry arm of the Russian natural gas giant OAO Gazprom, said today it plans to invest $5 billion in 2016.
Russian news agency Itar-Tass reported that the company released a statement to the press making the announcement, following a meeting of the board of directors.
Investments will focus on upstream projects, such as launching the Novy Port and Messoyakh oilfields in the fall of 2016 and 2017 respectively.
QNA
