KEYFACT Energy
Volga Gas plc, the oil and gas exploration and production group operating in the Volga Region of Russia, is pleased to provide the following update on its average production volumes for August 2020.
Production Report
Theaverageproductionin August 2020was4,317barrels of oil equivalent per day (20.3% higherthanJuly2020). This increase was driven by higher gas plant capacity utilisation whereas production in July 2020 was constrained by Gazprom's pipeline maintenance works. In addition, further increases in oil production came from new slim hole wells.
Average production comprised:
|
Aug 2020 Average |
July 2020 Average |
Jan-Aug 2020 Average |
|
|
Gas: |
8.9 mmcfd |
7.6 mmcfd |
8.7mmcfd |
|
Condensate |
2,111bpd |
1,786bpd |
1,567bpd |
|
Oil |
565bpd |
416bpd |
493bpd |
|
LPG |
162bpd |
113bpd |
175bpd |
|
Total |
4,317boepd |
3,590boepd |
3,685boepd |
Production data is based preliminary on monthly production reports prepared for submissions to the tax authorities for Mineral Extraction Tax purposes. Final monthly production reports may vary marginally from preliminary monthly production reports.
As at 31 August 2020, the Group held cash balances of US$12.1million, and has no debt.
KeyFacts Energy: Volga Gas Russia country profile