BAKU, Azerbaijan, Apr. 30
By Nargiz Sadikhova - Trend:
After refining, average oil production of Nostrum Oil & Gas PLC in Kazakhstan was 24,006 barrels of oil equivalent per day in 1Q2020, Trend reports with reference to the company’s report.
The company said that drilling was halted for the rest of 2020, whereas workover activity to support production levels was continued.
“The company continues focusing on monetizing spare capacity by processing third party volumes. Actions are taken to protect the safety of the staff and mitigate any impact of COVID-19 on operations,” the report said.
The company’s average sales volumes were 22,903 barrels of oil equivalent per day in 1Q2020.
The average sales volumes of crude oil & stabilized condensate amounted to 8,968 barrels of oil equivalent per day in 1Q2020. Average sales of liquid petroleum gas were 2,862 barrels of oil equivalent per day, whereas average sales of dry gas were 11,074 barrels of oil equivalent per day.
The company said that it has halted all drilling in 2020 and will operate with only one workover rig at the field site. Additionally, 2020 production forecast of 20,000 barrels of oil equivalent per day, corresponding to sales volumes of 19,000 barrels of oil equivalent per day.
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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