BAKU, Azerbaijan, October 29
By Nargiz Sadikhova - Trend:
Average daily production after treatment of Kazakhstan’s Nostrum Oil & Gas totaled 17,532 barrels of oil per day with average daily sales volumes of 15,838 barrels of oil per day, Trend reports citing the company’s operational report.
Condensate inventory is not included in the reported sales volumes and as of September 30, 2021, amounted to approximately 254,000 barrels of oil, which is planned to be sold in 4Q2021.
“We remain extremely vigilant in respect of COVID-19. We continue to implement stringent precautionary measures and we believe we have the systems in place to monitor and manage the risks presented by the pandemic in West Kazakhstan. To date, no production has been lost because of COVID-19,” the company said.
Furthermore, a follow-up 7 well workover program started in September; this is a continuation of a good intervention program initiated in April 2021. The entire program is currently for 13 workovers and up to 20 interventions to be completed by June 2022.
“We continue to focus on ways to monetize spare capacity in the gas treatment facility through processing third-party volumes,” the company said.
On July 23, 2021, the Company announced that its wholly-owned subsidiary Zhaikmunai LLP had agreed with Ural Oil & Gas LLP to extend the deadline under the Agreements for Ural OG's first delivery of gas and liquid gas condensate to Zhaikmunai by approximately six months, from April 9, 2023, to October 31, 2023. The extension was requested by Ural OG as a result of circumstances relating to the COVID-19 pandemic
The 2021 planned shutdown that included the internal inspection of all process vessels was completed successfully in the third quarter.
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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