Volga Gas PLC Production Report for January 2017 (8031V)
February 02 2017 - 2:00AM
UK Regulatory
TIDMVGAS
RNS Number : 8031V
Volga Gas PLC
02 February 2017
2 February 2017
Volga Gas plc
("Volga Gas", the "Company" or the "Group")
PRODUCTION REPORT FOR JANUARY 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 January 2017.
In January 2017, gas processing capacity continued to run at
maximum level without disruptions. The average production in
January 2017 was once more the highest in the Group's history at
8,176 barrels of oil equivalent per day. This was 1% higher than
December 2016 and 71% higher than January 2016.
Average production comprised:
January 2017 January 2016 December
average average 2016
average
Gas: 33.5 mmcfd 19.8 mmcfd 32.2 mmcfd
Condensate 1,826 bpd 1,349 bpd 1,799 bpd
Oil 770 bpd 134 bpd 893 bpd
Total 8,176 boepd 4,790 boepd 8,060 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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