The oil production increased by 4.3 percent to 2.8 million tonnes for the same period. The largest Ukrainian oil/gas producing companies are Ukrgazvydobuvannya, Ukrnafta and Chernomorneftegaz that are incorporated in Neftegaz Ukrainy. The gas production was launched in the deepest Ukrainian well at the Semerenkovsky gas deposit in the Poltava region on Thursday. Gas is produced at the depth of 6,223 meters. The gas production is expected to be launched in the second well by the end of December, and there will be three wells in this district. All together they can produce 23 million cubic of gas monthly. Promising gas beds are located at the depth of 5,000 meters in Ukraine. The gas production increase in the Dnepr-Donetsk basin Ukraine links with the cooperation agreement that Neftegaz Ukrainy and Shell International Exploration and Production BV signed on December 1. Both companies agreed on the joint surveys, development, production, marketing and sale of hydrocarbons. Under the agreement Shell will rent ten deposits in this basin that will provide access to deep gas deposits that are located under shallow deposits. Shell will make initial investments of 100 million dollars, the project will be launched in 2006. PIN/ITAR-TASS