Volga Gas PLC PRODUCTION REPORT FOR MARCH 2017 (4416B)
April 04 2017 - 2:01AM
UK Regulatory
TIDMVGAS
RNS Number : 4416B
Volga Gas PLC
04 April 2017
4 April 2017
Volga Gas plc
("Volga Gas", the "Company" or the "Group")
PRODUCTION REPORT FOR MARCH 2017
Volga Gas plc, the oil and gas exploration and production group
operating in the Volga Region of Russia, is pleased to announce its
average production volumes for March 2017.
In March 2017, average gas processing capacity was reduced due
to regular maintenance of production facilities and normal seasonal
disruptions to transportation of oil from the Uzen field. The
average production in March 2017 was 5,611 barrels of oil
equivalent per day (30% lower than February 2017).
Average production comprised:
March 2017 February 2017 Jan-Mar
average average 2017
Average
Gas: 23.3 mmcfd 32.5 mmcfd 29.7 mmcfd
Condensate 1,302 bpd 1,918 bpd 1,674 bpd
Oil 424 bpd 693 bpd 627 bpd
Total 5,611 boepd 8,022 boepd 7,245 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,
Richard Hail
+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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