Volga Gas production falls in August as Russian gas field struggles

Moscow, September 3 - Neftegaz.RU. Volga Gas said average production fell in August following lower otput in the Vostochno-Makarovskoye gas field in Russia, Alliance News reported.

The exploration and production company said the average output of gas, oil and condensate in August totalled 4,388 barrels of oil equivalent per day, down 10% from 4,877 in July.

Gas production and condensate output were down 14% and 8.5% at 14.3 million cubic feet per day and 1,354 barrels per day, respectively. Gas production and condensate output totalled 16.6 million cubic feet per day and 1,479 barrels per day, respectively, in July.

Liquefied petroleum gas production fell by 9.8% from July to 249 barrels per day from 276 barrels per day. There was a rise in oil output, however, by 9.7% to 394 barrels per day from 359 barrels per day.

Looking ahead, the company said it has adopted a "more conservative production policy", guiding an average of 2,830 barrels of oil equivalent per day, leading to an average of 4,400 barrels of oil equivalent per day for 2019 as a whole.