Urals Energy is an AIM-listed and Cyprus registered oil and gas concern primarily focused on upstream exploration and production in Russia. The company has highly significant 2P reserves of approaching 100mm barrels located at Kolguyev Island in the Barents Sea, Sakhalin Island off Russia’s east coast and in the Komi Region of Western Siberia. As of early 2017 production was about 2,350 b/d of light crude sourced from Kolguyev and Sakhalin. All production from Kolguyev is exported to Western Europe while output from Sakhalin is mainly refined by Urals local Petrosakh refinery (capacity of 4,200 b/d). Small volumes of Sakhalin crude are also used as direct-burn in local heating facilities and as feedstock for road making material.
|28 July 2017
||Recent acquisitions provide development potential