IVANO-FRANKIVSK, April 23 - Russian oil major Lukoil plans to put upwards of $70 million into the implementation of investment projects at the petrochemicals enterprise Karpatnaftokhim (Kalush, Ivano-Frankivsk region) this year, Lukoil's vice president for oil-refining, petrochemicals, and gas-refining, Oleg Durov said in Ivano-Frankivsk on Monday.

"The investment program for this year is more than $70 million. We will be completing a number of investment projects begun two years ago, a number of investment projects begun this year," Durov said during the signing of a cooperation agreement with the regional administration.

The agreement, signed on Monday by Ivano-Frankivsk region governor Mykhailo Vyshyvaniuk, had already been signed by Lukoil CEO Vagit Alekperov, Durov said.