BAKU, Azerbaijan, Mar. 25
By Nargiz Sadikhova - Trend:
Ryder Scott consulting and audit company has completed audit of the reserves of Kazakhstan’s Nostrum Oil & Gas PLC, Trend reports citing Nostrum.
The audit has confirmed the management estimates of the Chinarevskoye reserve volumes at December 31, 2020, previously announced by the Company on January 29, 2021.
Those volumes are the total 2P (Proven plus Probable) reserves at December 31, 2020 of 39 million of barrels of oil equivalent, (being gross reserves of oil & condensate and plant products per the Report plus gas reserves converted into oil equivalent using 5.327 million cubic feet per barrel of oil equivalent), the 1P (Proven) case at 28.9 million of barrels of oil equivalent, comprising 27.7 million of barrels of oil equivalent for Proved Developed Producing (PDP) from 45 current wells and 1.2 million of barrels of oil equivalent in the Proved Undeveloped (PUD) category (again converting gas reserves into oil equivalent using 5.327 million cubic feet per barrel of oil equivalent).
In addition, the audit has confirmed Chinarevskoye contingent resources of 146 million of barrels of oil equivalent.
Ryder Scott also confirmed management estimates of the Rostoshinskoye contingent resources on December 31, 2020 of 31 million of barrels of oil equivalent.
Nostrum Oil & Gas PLC is an independent oil and gas company currently engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin. Its shares are listed on the London Stock Exchange. The principal producing asset of Nostrum Oil & Gas PLC is the Chinarevskoye field, in which it holds a 100 percent interest and is the operator through its wholly-owned subsidiary Zhaikmunai LLP.
In addition, Nostrum Oil & Gas holds a 100 percent interest in and is the operator of the Rostoshinskoye oil and gas field through the same subsidiary.
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