StockMarketWire.com - Oil and gas company Volga Gas said average production volumes fell in October, driven by the temporary shut-in of well VM-4 amid plans to carry maintenance work.

The average production in October, was 3, 680 barrels of oil equivalent per day, down 7.4 % from September.

Domestic pricing for oil was slightly increased in rubble RUR, whereas for condensate it was slightly lower.

'The LPG price decreased as is normal for winter seasons, although shortages in local supplies kept the LPG price higher than normally expected,' the company said.

Further to the announcement of 6 October 2020, testing operations have started at the Novo Kurilovskiy prospect, it added.

The formation would be tested by several perforation intervals in order to gather detailed information about the saturation and reservoir properties. The group anticipated to complete the testing programme by the end of 2020.






At 8:49am: [LON:VGAS] Volga Gas PLC share price was -3p at 23p



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