Ural Oil & Gas progresses Kazakh gas project
Kazakhstan-focused Ural Oil & Gas has signed a turnkey contract for construction work at its Rozhkovsky gas field in the country's west, London-listed Nostrum reported on June 28.
Nostrum is relying on gas supply from Rozhkovsky to make use of excess gas processing capacity at its nearby Chinarevskoye field, which has seen a steady decline in its own production over the last few years.
Rozhkovsky is due to start production in the fourth quarter of 2023, and will be tied back to Chinarevskoye. Nostrum is currently undertaking preparatory work so that it is ready to process Ural's gas. It is also in discussions with other third parties on processing their gas using its infrastructure, the company said.
Production at Chinarevskoye averaged 17,032 barrels of oil equivalent/day, down from 22,337 boe/d. Nostrum earned $112.5mn in EBITDA from sales at the field in 2021, up from $80.4mn in the previous year, on the back of $195.3mn in revenues.