MOSCOW, Dec 28 (Reuters) - Russia's state-controlled oil champion Rosneft ROSN.MM will raise oil output by 11 percent in 2008 maintaining impressive growth in West Siberia and launching a new major field in East Siberia, it said on Friday.
Rosneft, which this year acquired most of the assets of bankrupt firm YUKOS, said its production will rise to 111.93 million tonnes or 2.24 million barrels per day, on a par with mid-sized OPEC producers such as Nigeria.
The prediction further confirms Rosneft as the undisputed leader of the Russian oil industry both in terms of growth and absolute figures after it became this year the first Russian company to produce over 100 million tonnes.
Rosneft's shares were up 0.57 percent by 1015 GMT, outperforming both the broader MICEX index .MCX and market peers like LUKOIL LKOH.MM or Surgut SNGS.MM.
In 2007, Rosneft increased production by 25 percent mainly due to acquisitions of assets of YUKOS at compulsory state auctions. Organic growth reached 6.3 percent - still far above the Russian industry average of around 2 percent.
Rosneft also said it had added 176 million tonnes of new reserves this year under the Russian C1 category, fully replacing its annual production.
Refining will rise to 49 million tonnes next year from 40 million this year, leading to an increase in refined products output to 46.8 million tonnes from 38.1 million in 2007.
The number of pump stations is also due to increase to 1,975 by the end of 2008 from 1,629 in 2007.
Rosneft said the plan for 2008 had been approved by its state controlled board of directors. It did not say whether the board had reviewed the firm’s long-term development programme, repeatedly postponed since mid-2007. (Reporting by Dmitry Zhdannikov; editing by Peter Blackburn)
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