5th Oct 2018 08:14
LONDON (Alliance News) - Volga Gas PLC on Friday said its average daily production decreased in September after it resumed pipeline maintenance programme.
The exploration company said the average production of gas, oil and condensate in September totalled 4,988 barrels equivalent daily, down 16% from 5,921 barrels equivalent daily in August.
Gas production fell to 18.8 million cubic feet per day from 22.4 million in August, oil output dropped to 360 barrels per day from 495 the month before, while condensate output declined to 1,138 barrels per day from 1,361 in August.
The decrease in oil production by 27% month-on-month was driven by the workover operations on the Uzen 6bis well in Russia. Production from this well is expected to resume imminently.
The company said its average gas processing capacity utilisation decreased by 19% compared to August as the Gazprom pipeline maintenance programme, which started in July, resumed in September after a break in August.
Shares in Volga Gas were down 1.7% on Friday at 56.50 pence each.
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