Russia's Rosneft plans to up oil output 4 pct in '10

MOSCOW, Dec 29 (Reuters) - Rosneft ROSN.MM, Russia's No.1 crude producer, plans to increase oil and gas condensate output by around 4 percent to 117.6 million tonnes in 2010, the company said on Tuesday.

The business plan was approved by Rosneft’s board of directors. The company said it sees oil and gas condensate production rising from 112.6 million tonnes projected for the current year, when oil extraction is expected to go up by some 2.3 percent.

“The production increase was mainly driven by increased drilling and other geological and technical works at producing fields as well as by the start of commercial production at the Vankor field in Eastern Siberia,” the company said in a statement.

Reporting by Vladimir Soldatkin; editing by Dmitry Sergeyev