6th Jan 2020 10:25
(Alliance News) - Volga Gas PLC said Monday that average production in December dipped month-on-month, as a fall in gas and oil output more than offset a rise in condensate.
The Russia-focused oil & gas company said average production of oil, gas and condensate in December totalling 4,505 barrels of oil equivalent per day, down 4% from 4,687 barrels in November.
Gas production for the month dropped to 11.9 million cubic feet per day from 13.5 million in November, as did oil output to 443 barrels per day from 514 barrels the prior month.
However, condensate output rose to 1,795 barrels per day from 1,675 barrels, and liquefied petroleum gas to 285 barrels per day from 256 barrels in November.
For 2019 as a whole, Volga's average production was 4,930 barrels of oil equivalent per day, down from 5,144 barrels for 2018.
Shares in Volga Gas - which is based in London - were down 4.6% at 37.70 pence on Monday.
By Dayo Laniyan; [email protected]
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