Caspian Sunrise Reports Solid Growth Amid Challenges

Caspian Sunrise (GB:CASP) has released an update.

Caspian Sunrise PLC, an oil and gas company operating in Kazakhstan, reports a year of substantial growth despite a challenging environment, with a total revenue of $36.7 million for 2023, and an increase in operating profit to $15.5 million from the previous year’s $12.9 million. Key operational achievements include the commencement of oil trading, the drilling of new wells, and a strategic focus on horizontal drilling techniques. Looking forward, the company expects increased production and financial gains in the latter half of the year, bolstered by the potential $83 million sale of two structures and the start of production from three oilfields.

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