Kazakhstan-based Nostrum unveils oil production indicators for 2021

Oil&Gas Materials 28 January 2022 17:53 (UTC +04:00)
Kazakhstan-based Nostrum unveils oil production indicators for 2021

BAKU, Azerbaijan, January 28

By Nargiz Sadikhova - Trend:

Average daily production after treatment of Kazakhstan-based Nostrum Oil and Gas totaled 17,032 barrels of oil per day (boepd) for 2021 with average daily sales volumes for the year of 15,330 boepd, Trend reports citing the company.

"Noting the recent unrest in Kazakhstan and the evolving environment, we confirm no Group employees were harmed and our operations continued undisrupted. We will continue to monitor the situation and any potential future impact on the business," the company said.

The company added that condensate is sold when there are sufficient volumes to fill a cargo and inventory builds in the absence of a sale. There was approximately 268,000 boepd of condensate in inventory at the year end.

"We continued our well and reservoir management activities that are supported by well workovers and interventions. These are generally not capital intensive and offer reasonable risk/reward. These activities will continue in 2022. We continue our focus on pursuing ways to monetize spare capacity in the gas treatment facility through processing third-party volumes," the company added.

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. Located in the pre-Caspian basin to the northwest of Uralsk, this exploration and development field is situated approximately 100 kilometers from the Chinarevskoye field.


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