Last year, the Grozneftegaz branch company of the Rosneft oil company continued to restore oil and gas enterprises in the Chechen Republic and to increase their output.
As the press service reported on Thursday, the company produced 1.8 million tons of oil in Chechnya, 300,000 tons more than in 2002. The production of gas amounted to 458 million cubic meters, almost twice as many as in 2002. In 2004 the company plans to produce about 2 million tons of oil and over 510 million cubic meters of gas.
The spokesman for the press service said that in 2003 the company spent about 1.4 billion rubles (one dollar = approximately 30 rubles) on repairing and restoring the oil and gas complex in Chechnya.
At the same time thefts of oil in the republic continue, which negatively tells on the work of the oil and gas complex in Chechnya, the spokesman said.
"As a result, ten open fountains have appeared, seven of them caught fire. Nine of the fountains, including six on fire, have been eliminated," says the press release.