BAKU, Azerbaijan, August 17. Kazakhstan-based Nostrum Oil & Gas company has been producing 14,167 barrels of oil after treatment daily over 1H2020, which is down from 18,107 barrels a day in 1H2021, Trend reports citing the company.
Furthermore, daily sales volumes averaged 13,102 barrels, which also is down from 16,249 barrels over 1H2021.
“The Group continues its well and reservoir management strategy through well workovers and rigless well intervention in 2022. The Group has initiated a tie back project, budgeted for approximately $5m of capital expenditures, that will allow for the first third-party feedstock from Ural Oil & Gas LLP (“Ural OG”) to be received for processing in the Group’s facilities by 4Q2023,” the company said.
Commenting on the global situation with sanctions on Russia, the company added that its Directors have ensured the Group has remained in full compliance with the Russian sanctions.
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.