LUKoil may buy foreign production assets by end of ’11

Russia’s largest private oil company LUKoil may purchase production capacities abroad by the end of the year, its head, Vagit Alekperov, told reporters on Friday.

“We are interested in buying Upstream assets in the United States, Vietnam, and Southeast Asia. The company is interested in the acquisition of assets, including geological exploration,” Alekperov said.

When asked whether the acquisitions could be done by the end of 2011, he said: “Yes, I think so.”

Alekperov has previously said LUKoil expected to invest $25 billion in oil refining and petrochemistry in the next 10 years.

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