Baku, Azerbaijan, Apr. 27
By Elena Kosolapova - Trend:
Kazakhstan's Nostrum Oil & Gas PLC oil and gas exploration and production company has reviewed its oil output plan for 2016-2018 downward, read the company's message issued Apr. 27.
Nostrum Oil & Gas PLC is an independent multi-field oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin.
Considering the current program on drilling and the current oil prices, Nostrum Oil & Gas plans to produce 40,000 barrels of oil equivalent per day in 2016, 40,000-60,000 barrels of oil equivalent per day - in 2017, 60,000-90,000 barrels of oil equivalent per day - in 2018, and 90,000-100,000 barrels of oil equivalent per day - in 2019.
The company's output level was 45,000 barrels of oil equivalent per day at the beginning of 2016, 45,000-60,000 barrels of oil equivalent per day for 2017, almost 60,000-100,000 barrels of oil equivalent per day - for 2018.
Nostrum Oil & Gas reduced the average daily output of oil and gas to 38,750 barrels of oil equivalent in Q1 2016, according to the message. This figure was 45,480 barrels of oil equivalent per day in the same period of 2015.
The company's output was 15,560 barrels of oil equivalent of oil and stabilized condensate during the reporting period, 4,370 barrels of oil equivalent of liquefied natural gas (LNG) and 18,820 barrels of oil equivalent of dry gas per day.
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