Source Pravda.Ru

Gazprom reviews 2003 investment program

Gazprom's executive officers have introduced amendments to the investment program of the Russian natural gas giant for 2003, increasing capital investments by 10bn rubles (about $330m), the Gazprom press service reported. The existing investment program, which was approved by the Gazprom Board of Directors on February 25, 2003, envisages 196bn rubles (about $6.47bn) in investments. These assets are planned to be spent on capital construction and long-term financial investments.

The revised investment program stipulates additional funds to be spent, in particular, on financing the introduction of facilities at the Zapolyarnoye field and exploratory drilling operations at other fields.

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