- Completed construction and commissioning of the LPG plant.
- Aim to increase in capacity utilisation of the Redox sweetening unit.
- Plan sidetrack wells in VM and Dobrinskoye to enhance recovery of reserves.
- Successful implementation of Redox gas sweetening
- Construction of LPG recovery unit - expect to commence production during Q2 2018
- Drilled horizontal well Uzen #101.
- Group production in 2016 increased by 99% compared to 2015
- Throughput of gas at the processing plant running at the target plateau rate of 1 million cubic metres per day during 2H 2016
- Successfully exporting 48% of condensate sales in 2016.
- Concluded successful development drilling operations on the VM field
- Increased throughput of gas at the processing plant by 50% in December 2015
- Development of export channels for condensate
- Maintained positive net cash balances and remained debt free
- Aim to complete VM#3 and VM#4 wells on Vostochny Makarovskoye field.
- Design work on LPG (propane/butane) extraction unit at the gas plant.
- Significantly higher rates of production taxes imposed since 1 January 2015.
- Production in 2014 averaged 4,224 barrels of oil equivalent per day.
- Strong financial performanceand maiden dividend paid to shareholders.
- Commenced drilling VM#3 well on Vostochny Makarovskoye field.
- Evaluation of potential LPG (propane/butane) extraction unit at the gas plant.
- Gas plant upgrade advanced and thrpughput doubled in November to 0.5 million cubic metres per day.
- Successful workover on VM#1 increases total group production capacity to over 5,000 boe/d
- Exploration inventory updated to include new oil prospects in the Karpenskiy licence area.
- Production commenced from the Vostochny Makarovskoye field
- Completion of Stages I and II of the upgrade project to the Dobrinskoye gas processing plant
- Successful sidetracks to the Dobrinskoye wells #22 and #26
- Successful workover of well #30 on the Vostochny Makarovskoye field
- Miller & Lents reserve report prepared under SPE standards: 44.0 mmboe of 2P reserves and NPV value of future net revenue of $301 million.
- Acquisition of OOO Gazneftedobycha bringing ownership of the Dobrinskoye gas/condensate field and the Dobrinskoye gas processing plant
- Successful long term testing of development wells VM #1 and VM #2 on the Vostochny Makarovskoye field