In 2015, Zarubezhneft to reduce investments, but not production

Zarubezhneft, 100% owned by the state, has slightly reduced the volume of investments in some projects in 2015 because of the fall in the world oil prices, but doesn’t intend to cut the production, said the company’s spokesperson.

"We are considering according to the extreme (case scenario) - and with 60 (dollars per barrel), and 40 (dollars). Of course, we cut some investments, but we didn’t do anything with wells. The main thing are the plans that we have on Vietnam, we believe that we will make them. And on the Central-Khoreiverskoye upheaval too. Of course, we cut something there, exploration and so on, but the main thing: the number of wells, production volume that we have to date, we believe that we will maintain them,"- said the Zarubezhneft’s representative.