Source Pravda.Ru

Surgutneftegaz oil and gas giant reports production growth

The Russian oil and gas giant Surgutneftegaz reported an almost 12-percent rise in oil production in the first ten months of 2002 against the corresponding period in 2001. The volume of oil production hit 40.61m tons against 36.336m tons in January-October 2001. Moreover, the company's natural gas production rose 19.8 percent, from 9.1bn cubic meters to 10.9bn cubic meters. In the reported period, Surgutneftegaz put into operation 754 new oil and gas wells as compared to 698 wells in the first ten months of 2001.

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