Production volumes fall for Volga Gas in December

Russia-focussed oil and gas exploration and production group Volga Gas announced its average production volumes for December, and for the full 2018 year on Tuesday, reporting that in December, average gas processing capacity utilisation decreased by 4% compared to November.

The AIM-traded firm said a minor decrease was caused with few low temperature disruptions.

It explained that average production in December was 5,803 barrels of oil equivalent per day, 4% lower than in November.

That average production comprised 21.6 mmcfd of gas, down from 22.5 mmcfd in November, and 1,298 bpd of condensate, which dropped from 1,346 bpd a month prior.

It also consisted of 516 bpd of oil, which increased from 483 bpd, and 393 bpd of LPG, which was down from 435 bpd in November.

“Actual production for the year [ended] 31 December of 5,144 is marginally ahead of management's expectations of 5,000 boe per day including LPG volumes,” the Volga board said in its statement.