Oil and gas production volumes decreases in Dagestan
As to the republican Ministry of Energy and Tariffs the oil production in Dagestan decreased by 3.8%, gas - by 14% in 2023. Last year the total volume of oil production made 62.2 thousand tons, while in 2022 this figure was 64.6 thousand tons.
Gas production in 2023 reached 84 million cubic meters against 98 million cubic meters in 2022. The decline in production in the region can be explained by several reasons at once. The main one is the reduction in financing of geological exploration works and, as a result, the lack of new wells.