BAKU, Azerbaijan, Oct. 30
By Nargiz Sadikhova - Trend:
Revenues of Kazakhstan’s Nostrum Oil & Gas PLC are expected to be in excess of $135 million over 9M2020 as compared to $250 million over 9M2019, Trend reports citing the company.
The company noted that over the reported period it continued to focus on cost optimization to help manage its liquidity.
Thus, cash position is expected in excess of $88 million during the reporting period as compared to $91 million over 9M2019.
“Total debt expected not to exceed $1.1 billion and net debt expected not to exceed approximately $1.07 billion as at September 30, 2020,” the company said.
Kazakhstan’s Nostrum Oil & Gas PLC company's revenues decreased from $174.2 million in 1H2019 to $92.6 million in 1H2020.
The company said that its 1H2020 average production after treatment was 23.5 million barrels a day with average sales volumes of 22.6 million barrels a day.
The company’s net operating cashflows were $47 million in 1H2020, which is also significantly less compared to $116.9 million in 1H2019.
Nostrum Oil & Gas is an oil and gas exploration company based in North-Western Kazakhstan, with substantial infrastructure assets and connections to major export destinations.
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