6th Aug 2018 11:28
LONDON (Alliance News) - Volga Gas PLC on Monday said it average daily production was lower in July due to pipeline maintenance.
The exploration company said the average production of gas, oil and condensate in July totalled 4,516 barrels equivalent daily, down 32% from 6,678 barrels equivalent daily in June.
Gas production fell to 16.6 million cubic feet per day from 25.1 million in June, oil output dropped to 520 barrels per day from 646 the month before, while condensate output declined to 1,101 barrels per day from 1,502 in June.
The company said its average gas processing capacity utilisation decreased by 31% compared to June due to downtime incurred by gas company Gazprom pipeline maintenance.
Shares in Volga Gas were untraded on Monday, last quoted at 57.00 pence each.
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VGAS.L