As it fights for its survival, UK-listed, Kazakhstan-focused independent Nostrum Oil and Gas has downgraded proven and recoverable oil and gas re- serves at the onshore Chinarevskoye field by more than 66% — to just 138 million boe. Nostrum, which is part-owned by Timur Kulibayev, the billionaire son- in-law of former President Nursultan Nazarbayev, admits it is in a “precari- ous” position as the collapse in oil prices hammers revenues that have already been hit by a fall in produc- tion. Earlier this year, the company an- nounced it had stopped drilling at the field, which currently produces around 23,000 boe/d, due to technical issues (NC Feb.6’20).
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