Business
Operational Update for 3Q and 9M 2021
Operational Update for 3Q and 9M 2021.
About this update from Nostrum Oil & Gas Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6465Q\n Nostrum Oil & Gas PLC\n 29 October 2021\n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION\n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n \n \n \n \n \n London, 29 October 2021\n \n \n \n \n \n \n \n \n Operational Update for the third quarter and nine months ended 30 September 2021\n \n \n \n \n \n Nostrum Oil & Gas PLC (LSE: NOG) (\"Nostrum\", or the \"Company\" and together with its subsidiaries, the \"Group\"), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, today announces its operational update in respect of the third quarter and nine months ended 30 September 2021.\n \n \n \n \n \n Highlights:\n \n \n \n \n \n Operational\n \n \n ·\n Average daily production after treatment for 9M 2021 totalled 17,532 boepd with average daily sales volumes of 15,838 boepd. Condensate inventory is not included in the reported sales volumes and as at 30 September 2021 amounted to approximately 254,000 boe, which is planned to be sold in Q4 2021.\n \n \n \n \n \n · \n We remain extremely vigilant in respect of COVID-19. We continue to implement stringent precautionary measures and we believe we have the systems in place to monitor and manage the risks presented by the pandemic in west Kazakhstan. To date, no production has been lost because of COVID-19.\n \n \n \n \n \n · \n A follow-up 7 well workover programme started in September; this is a continuation of a well intervention programme initiated in April 2021. The entire programme is currently for 13 workovers and up to 20 interventions to be completed by June 2022. \n \n \n \n \n \n · \n We continue to focus on ways to monetise spare capacity in the gas treatment facility through processing third party volumes.\n \n \n \n \n \n · \n On 23 July 2021, the Company announced that its wholly-owned subsidiary Zhaikmunai LLP (\"Zhaikmunai\") had agreed with Ural Oil & Gas LLP (\"Ural OG\") to extend the deadline under the Agreements for Ural OG's first delivery of gas...