RUSSIA: Slavneft's oil output down 11% to 77 mln bbl in 1H07

Slavneft [RTS: SLAV] said Thursday oil production in the first half of 2007 fell 11% year-on-year to 10.5 million metric tons (77 million barrels).

The oil company commissioned 99 new oil wells in the reporting period, up 13% against the first six months of 2006.

The company refined 11.7 million metric tons (86 million bbl) of crude in January-June 2007, an amount almost equal with the 2006 figure.

Established in 1994, Slavneft has an authorized capital of 4.8 million rubles ($189,000). The company is ranked among Russia's top ten oil companies and handles both upstream and downstream operations. Slavneft holds mineral licenses for 37 areas in West Siberia and the Krasnoyarsk Territory.

Via: Russian News Information Agency