OREANDA-NEWS. Beliye Nochi, OOO, Oil and Gas Company RussNeft’s subsidiary plans to allocate 668 mln rubles to geological exploration at Company’s fields in 2007. This amount exceeds similar rates for the last two years – 2005-2006 - ten-fold. The major part of the funds will be invested into drilling of six exploration wells and also seismic operations.

RussNeft’s 5-year program of expansion for the Company pays much attention to recreation of company’s mineral resources base and compensation of raw materials production by new proved reserves growth. Thus, in 2007 it is planned to allocate over 70% of all Company’s investment to geological exploration involving seismic operations and exploratory and delineation well drilling. At that, this year alone company’s add new reserves will amount up to 17 mln 894 thousand tons of oil. Total reserves growth for company’s operation within RussNeft structure -2004-2006 - is 25 mln 125 thousand tons of crude oil.