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.
The principal producing asset of Nostrum is the Chinarevskoye field in Kazakhstan, in which it holds a 100 percent interest and is the operator through its wholly-owned subsidiary Zhaikmunai LLP.
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.