What we do

Production

We currently operate three producing fields: one producing oil and two producing gas and condensate.  Our oil and condensate production has historically been sold directly to customers at the respective production facilities, thereby eliminating the need and cost of transportation to sales points.  However, since the end of 2015, a proportion of our condensate production has been sold to export markets in order to diversify our sales channels. Gas produced in our two fields, after processing necessary to meet pipeline specifications, is delivered into Gazprom’s regional transportation pipeline via a sales inlet located at our gas processing facility.

We have recently commenced sales of liquid petroleum gases (“LPG”) from the Dobrinskoye gas plant after completing construction of the LPG extraction unit.  The product is currently marketed in the Volga region of Russia.

Development

Development activities involve drilling and completion of producing wells, construction of production infrastructure including in-field flow lines and processing facilities.  Long term operation of production requires continuing maintenance and development throughout the life of a field.

Exploration and evaluation

After acquiring, processing and interpretation of geological data, including 2-D and 3-D seismic, the key process of exploration is the drilling of exploratory wells.  Our oil production is the result of our successful exploration.  The gas/condensate fields were based on previously discovered fields on which we subsequently carried out appraisal and evaluation work, including drilling of new wells.  We have a number of material exploration targets remining to be explored within our existing licence areas.

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Share Price 55.00p Change 0.00 at 08:00 on 12/12/18