BAKU, Azerbaijan, October 31. Daily oil after treatment production of Kazakhstan-based Nostrum Oil & Gas company averaged 13,684 barrels of oil per day (boepd) over 9M2022, which indicates a decrease compared to 17,532 boepd over 9M2021, Trend reports citing the company.
The daily sales volumes averaged 12,780 boepd, which also is a decrease compared to 15,838 boepd over 9M2021.
“The Group continues its well and reservoir management strategy through well workovers and rigless well intervention in 2022. The programme proves to be non-capital intensive and offers reasonable risk/reward in the absence of drilling,” the company said.
The company added that the Group has initiated a tie back project, budgeted for c. $5 million of capital expenditures, that will allow for the first ever third-party feedstock from Ural Oil & Gas LLP (“Ural OG”) to be received for treatment in the Group’s facilities starting from 4Q2023.
“The Directors are cognisant of the current and evolving sanctions list against Russian individuals and entities and have ensured the Group has conducted ongoing operations in compliance with these sanctions. The Group continues to prioritise the safety of all staff and contractors as well as focusing on running sustainable operations,” the company concluded.