RusEnergy

MOSCOW, March 5 (RIA Novosti) -- Russia's largest crude producer LUKoil [RTS: LKOH] said Monday its proven hydrocarbon reserves amounted to 20.36 billion barrels of oil equivalent (BOE) as of January 1, 2007, a rise of 4% year-on-year. This includes 15.93 billion barrels of oil and 26.6 trillion cubic meters of natural gas, the company press service said. As of January 1, 2006, LUKoil's reserves stood at 20.33 billion BOE. Last month the company said it produced 89.5 million tons of crude in Russia and 5.7 million tons abroad last year. LUKoil is currently developing 26 projects in 13 countries. LUKoil also said it plans to invest $27 billion by 2017 in oil and gas production and new acquisitions abroad.