Moscow-Russia's second largest oil producer Lukoil plans to approve its development strategy for the next decade on December 1, Lukoil President Vagit Alekperov said November 18, part of which is a plan to almost double oil and gas output by 2021. Lukoil's draft development strategy foresees oil and gas output growing to 180 million mt/year (3.6 million b/d) of oil equivalent by 2021 from the current 100 million mt/year. And Lukoil's annual investment in core operations is to exceed $10 billion/year over the next 10 years, according to the draft development strategy.
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