During the first five months of 2003, OJSC “Surgutneftegas” produced 21,730.8 thousand tons of oil, a 10% increase compared to the same period of the previous year (19,688.7 thousand tons of oil).

Gas production totaled 5.801 bln. cubic meters against 5.437 bln. cubic meters produced in January through May 2002. The Company achieved 6.7% gas production growth.

Drilling in January through May 2003 amounted to 1,246.3 thousand meters, including 103.3 thousand meters of exploratory drilling, against 1,161.9 thousand meters in the first five months of the previous year.

The Company commissioned 374 wells (2 wells more than in the same period of 2002).

The Company’s mid-term strategic plans call for 147,670 tons of oil per day in the current year, 158,350 tons per day in 2004, and 166,850 tons per day in 2005.

Press Service of OJSC “Surgutneftegas”