Surgutneftegaz posts results for Q1, 2003

The Russian oil and gas giant Surgutneftegaz has released the results of its operations in the first quarter of 2003. In the first three months of this year, the company produced 12.871m tons of oil, 11 percent more compared to the first quarter of 2002, the Surgutneftegaz press service reported. In the first quarter of 2003, 220 new wells were brought into operation versus 208 in the corresponding period last year. The volume of gas production reached about 3.546bn cubic meters, 10 percent more than in the first quarter of 2002.

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