MOSCOW, January 30 (RIA Novosti) - Russian oil company Surgutneftegaz plans to increase its oil production by 5% and its natural gas output by 6% in 2006, the company said in a news release Monday.
Surgutneftegaz produced 63.8 million metric tons of oil (1.3 million bbl/d) in 2005 and 14.36 billion cu m of gas. Oil output growth in 2005 was 7.1%, the company said.
The company said it would bring on stream three new oil and gas fields this year, and drill 934 new wells.
Forecasted investment for 2006 stands at 69 billion rubles ($2.5 billion), 19% more than last year, the company said.
The firm also said it had increased investment by 23.6% in 2005 to 57.9 billion rubles ($2.1 billion).
