2nd Oct 2019 12:32
(Alliance News) - Volga Gas PLC said Wednesday its average production in September fell due to lower output from the Vostochno-Makarovskoye gas field in Russia.
The oil & gas company said the average production of oil, gas and condensate in September totalled 3,814 barrels of oil equivalent per day, down 13% from 4,388 in August.
Gas production dropped to 10.5 million cubic feet per day from 14.3 million in August, however condensate output rose to 1,415 barrels per day from 1,354, and oil production increased to 474 barrels per day from 394 in August.
Finally, liquefied petroleum gas production dropped to 168 barrels per day from 249 in August.
Looking ahead, Volga expects average production for the rest of 2019 at 2,900 barrels of oil equivalent per day, leading to an average of 4,600 boepd for 2019, down from 5,144 boepd the year before.
Shares in Volga Gas were down 4.4% at 32.5 pence on Wednesday in London.
By Dayo Laniyan; [email protected]
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