◖ 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.
◖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