OREANDA-NEWS. The Board of Directors also reviewed Strategic Development Program of the LUKOIL Group for 2008-2017 aimed at ensuring dynamic production growth and hydrocarbon treatment with strict control over expenses and capital investment.

The Program also includes a number of proposals aimed at low profit oil fields development optimization.

In general, Strategic Development Program of the LUKOIL Group for 2008-2017 sets the following priorities: asset portfolio optimization; capital investment discipline; asset diversification; oil refinement capacity increase; speeding up development of natural gas reserves and further processing; power consumption reduction; labour productivity increase.