KIEV, Jan. 26 – Russia's Lukoil oil company is planning to invest over $60 million in the development of Karpatnaftokhim petrochemical company (Kalush, Ivano-Frankivsk region), Karpatnaftokhim Director General Serhiy Chmykhalov said.

"Total investment will exceed $60 million, which Lukoil will allocate this year to develop the enterprise," he told Interfax-Ukraine during the signing of an agreement with Ivano-Frankivsk regional administration on the financing of social projects in the region for 2012 on Wednesday.