Volga Gas PLC Production Report For November 2016 (8887Q)
December 05 2016 - 1:45AM
UK Regulatory
TIDMVGAS
RNS Number : 8887Q
Volga Gas PLC
05 December 2016
5 December 2016
Volga Gas plc
("Volga Gas", the "Company" or the "Group")
PRODUCTION REPORT FOR NOVEMBER 2016
Volga Gas plc, the oil and gas exploration and production group
operating in the Volga Region of Russia, is pleased to its average
production volumes for November 2016 and for the year to date.
During November 2016, gas processing capacity was temporarily
reduced while undertaking the testing of new chemicals for gas
sweetening, as well as planned maintenance downtime of the plant
for one week. Consequently, average Group production for November
2016 was 5,454 barrels of oil equivalent per day (27% lower than
October 2016).
Monthly production comprised:
November 2016 Jan-Nov 2016
average average
Gas: 19.8 mmcfd 24.8 mmcfd
Condensate 1,130 bpd 1,534 bpd
Oil 1,026 bpd 689 bpd
Total 5,454 boepd 6,363 boepd
Production data is based on monthly production reports submitted
to tax authorities for Mineral Extraction Tax purposes.
For further information, please contact:
Volga Gas plc
+7 (903) 385
9889
Andrey Zozulya, Chief Executive +7 (905) 381
Officer 4377
Vadim Son, Chief Financial Officer +44 (0)7824
Tony Alves, Investor Relations Consultant 884 342
+44 (0)20 3470
S.P. Angel Corporate Finance LLP 0470
Richard Redmayne, Richard Morrison,
Soltan Tagiev
+44 (0)20 3727
FTI Consulting 1000
Edward Westropp, Alex Beagley
Editors' notes:
The information contained in this announcement has been reviewed
and verified by Mr. Andrey Zozulya, Chief Executive Officer of
Volga Gas plc, for the purposes of the Guidance Note for Mining,
Oil and Gas companies issued by the London Stock Exchange in June
2009. Mr. Andrey Zozulya holds a degree in Geophysics and
Engineering from the Groznensky Oil & Gas Institute and is a
member of the Society of Petroleum Engineers.
This announcement contains inside information as defined in EU
Regulation No. 596/2014 and is in accordance with the Company's
obligations under Article 17 of that Regulation.
The Company records production in metric tonnes (for oil and
condensate) and in cubic metres (for gas). Conversions from metric
to standard oil field units are used for illustrative purposes only
and are based on the Company's estimate of the applicable ratios.
The ratios used are 7.833 barrels per tonne for oil and 8.75
barrels per tonne for condensate. Gas volumes are translated using
35.3 cubic feet per cubic metre and 6,000 cubic feet per barrel of
oil equivalent.
Glossary:
bpd Barrels per day
boepd Barrels of oil equivalent per day
mmcfd Millions of standard cubic feet per day
This information is provided by RNS
The company news service from the London Stock Exchange
END
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