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Russia's oil major reports 7.5% increase in oil output in 2005

TYUMEN, January 25 (RIA Novosti, Alexander Perestoronin) - Surgutneftegaz, a leading Russian oil company, said Wednesday that its oil production had increased by 7.5% in 2005, year-on-year, to about 63.8 million metric tons.

Surgutneftegaz also produced more than 14 billion cubic meters of gas in 2005 compared with about 14 billion cubic meters in 2004.

The company's drilling volumes exceeded 3.1 million meters of rock, including 155,800 meters of geological prospecting.

In the reporting period, the company put 922 new wells into operation (884 in 2004).