Surgutneftegas Increases Production by 11%

In January and February of 2003, Surgutneftegas reported that oil production reached 8.416 million tons, an 11.4% increase in comparison with the volumes produced during the same period of 2002.

Gas production amounted to 2.311 billion cubic meters. compared to 2.067 billion cubic meters extracted in January and February of 2002 (an 11.8% increase).

Drilling totaled 473 thousand meters of rock compared to 440 thousand meters having been drilled during this time last year. Exploratory drilling amounted to 38.6 meters in January-February this year. The Company put onstream 138 new wells compared to 132 wells at this time last year.