Oil output, including gas condensate production, reached 41.8 million metric tons (306 million barrels).
"Production growth was due to the application of new technologies and an increase in the number of wells last year," the ministry said in a survey.
According to the Industry and Energy Ministry, oil exports in March 2007 stood at 22 million metric tons (161 million barrels), up 1.9%, year-on-year. The share of Commonwealth of Independent States (CIS) countries in oil exports was 3 million tons (22 million barrels), a decline of 15.7% largely due to falling supplies to Ukraine and Belarus.
Natural gas production in March reached 59.3 billion cubic meters.
Natural gas monopoly Gazprom retained its 84.1% share in the total output, while oil companies and independent natural gas producers caused a 1.3% rise in the output.
The Industry and Energy Ministry said natural gas exports in March dropped 28.4% to 14.1 billion cubic meters, including 3 billion cubic meters to the CIS, down 26.8%, year-on-year.
"The decline in natural gas exports in the reporting period was caused by a lower demand due to better weather conditions compared to March 2006 and the absence of deliveries to the Republic of Azerbaijan," the survey said.
