Russ Oil-Gas

RBC, 01.06.2007, Moscow 10:19:33.Gazprom's management has revised its investment program for 2007 by boosting it by 1.4 times to RUR762.3bn (approx. USD29.43bn), the company's press office reported today. The Board of Directors of the Russian energy holding will review the new document in the near future. According to the new program, capital investment will amount to RUR319.78bn (approx. USD12.35bn), which is RUR40.78bn (approx. USD1.57bn), or 11.31 percent, less than the company's program had previously provided for. Long-term investment grew 2.6 times to RUR442.52bn (approx. USD17.09bn). Gazprom's management explains the need to revise the company's investment program by purchases of Sakhalin Energy, Beltransgaz, and Mosenergo.