Gazprom Neft sees 2013-2015 investments at $23 bln

MOSCOW Mon Dec 17, 2012 6:30am EST

MOSCOW Dec 17 (Reuters) - Gazprom Neft, the oil arm of Russia's top gas producer Gazprom, is expected to set aside more than $23 billion in 2013-2015 investments, the company said in its presentation to investors on Monday.

It said the 2013 investments will increase to $7.4 billion from $6.1 billion in 2012. Gazprom Neft also earmarked $8.3 billion for 2014 and $7.3 billion for 2015 investments.

The company also said it expects 2012 net profit to rise to $5.71 billion from $5.47 billion in 2011, while revenues are seen rising to $39.84 billion from $35.05 billion.

Gazprom Neft revised its 2011 revenue down from the earlier reported $44.19 billion, while the net income figure was revised up to $5.47 billion from the earlier announced $5.35 billion.

Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) are projected to increase to $10.39 billion from $10.22 billion in 2011. (Reporting by Olesya Astakhova; Writing by Vladimir Soldatkin, Editing by Alexei Anishchuk)