BAKU, Azerbaijan, May 7
By Nargiz Sadikhova - Trend:
Kazakhstan’s Nostrum Oil and Gas company is looking to exploit low cost per barrel, high-confidence infill opportunities in order to add to Proved Developed Producing (PDP) reserves, Arfan Khan, Chief Executive Officer of Nostrum Oil & Gas, said in the Q1 Operational Update, Trend reports.
The company noted that these measures will be taken in order to maximize output from the Chinarevskoye field, which is a strategic focus for 2021.
Thus, in addition to targeted workover and intervention program, the company will continue to maximise uptime of existing wells and production facilities.
“The company also plans on adding to PDP by exploiting low cost per barrel, high-confidence infill opportunities with best-in-class well and reservoir management,” the company said.
Currently the company plans to achieve average production volumes of 17,000 barrels of oil per day (boepd) corresponding to average sales volumes of 16,000 boepd.
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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