UPDATE 1-Russia LUKOIL sees '07 output growth down to 2 pct

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By Tanya Mosolova

MOSCOW, Nov 16 (Reuters) - Russian oil major LUKOIL (LKOH.MM) sees its hydrocarbon production growth slowing significantly this year and may revise its future output growth targets, a senior company official said on Friday.

Andrei Gaidamaka, the head of LUKOIL's investment department, said hydrocarbon production is likely to rise by 2 percent this year after a 12 percent increase in 2006.

"We are not revising our production growth plans at the moment, but there might be somewhat of a delay," Gaidamaka told Reuters.

He added that LUKOIL, in which U.S. ConocoPhillips (COP.N) owns a 20 percent stake, might review its 10-year annual production growth target of about 5 percent by the end of this year.

Gennady Krasovsky, head of LUKOIL's investment relations department, said this year's production growth was affected by the sale in April of a 50-percent stake in its Kazakh unit, Caspian Investment, formerly called Nelson Resources.

He also said LUKOIL's gas output was hit by gas export monopoly Gazprom's (GAZP.MM) urge to smaller gas producers to cut the fuel's production to help handle excess gas after an abnormally warm winter.

LUKOIL said earlier in November its total hydrocarbon production reached 2.18 million barrels of oil equivalent per day in the first nine months of 2007, up 2 percent year-on-year.