Nostrum Oil & Gas keen to up output in Kazakhstan in 2017
Baku, Azerbaijan, Jan. 31
By Elena Kosolapova – Trend:
The Netherlands-based Nostrum Oil & Gas plc plans to produce 50,000-60,000 barrels of oil equivalent per day (boepd) in Kazakhstan in 2017, versus 40,351 boepd in 2016.
The plans also include about 50,000-80,000 boepd of output in 2018 and up to 80,000-100,000 boepd of output in 2019, Nostrum Oil & Gas said in a message Jan. 31.
“Should oil prices deviate materially the production guidance will be updated accordingly,” the company said.
Nostrum Oil & Gas plc is engaged in production, development and exploration of oil and gas in the Pre-Caspian Basin in Kazakhstan. Its product split in 2016 was as follows: crude oil and stabilized condensate –16,061 boepd, liquid petroleum gas – 4,532 boepd, dry gas – 19,758 boepd.
In 4Q16, production reached 44,708 boepd on average.
Nostrum Oil & Gas also said that construction of the gas treatment unit #3, which will more than double the company’s production capacity, is progressing on schedule for completion in 2017.
In addition, Nostrum holds a 100 percent interest in and is the operator of the Rostoshinskoye, Darinskoye and Yuzhno-Gremyachenskoye oil and gas fields through the same subsidiary.
Located in the Pre-Caspian Basin to the north-west of Uralsk, these exploration and development fields are situated approximately 60 and 120 kilometers respectively from the Chinarevskoye field.