Synergia Energy (LSE:SYN) has increased production at its Cambay Production Sharing Contract in India after completing new pipeline connections that allow associated gas from several legacy wells to flow into the field’s export infrastructure.
The company has tied gas production from the C-19z and C-64 wells into a newly installed in-field pipeline network connected to the C-73 gas export facility. These wells now contribute alongside the established C-73 and C-77H producers, increasing aggregate production from the Cambay field.
As of 23 August 2026, total gas production from the Cambay PSC had reached 124 Mscfd. Synergia expects output to increase further to approximately 200 Mscfd once the C-74 well is brought online, which is anticipated in the coming days.
Additional production potential remains available from the C-08 well, where associated gas has yet to be connected to the new pipeline system. Bringing this supply into the network could provide another incremental increase in output and improve the reliability of gas deliveries from the asset.
The latest infrastructure work represents further operational progress at Cambay as Synergia seeks to maximise production from its existing well portfolio and make more effective use of the field’s gas export facilities.
The company’s wider financial position remains challenging, with a sharp reduction in revenue, negative gross margins and continuing operating and free cash flow losses weighing on the outlook. These pressures are partly balanced by relatively low levels of debt.
Recent corporate developments have produced a mixed picture. Progress at Cambay and continuity in the company’s governance provide positive signals, while the decision to relinquish the Camelot carbon capture and storage licence represents a setback elsewhere in the portfolio. Conventional valuation measures remain of limited use given Synergia’s negative price-to-earnings ratio and lack of dividend yield data, while limited technical information makes it difficult to draw strong conclusions from share price indicators.
About Synergia Energy Ltd
Synergia Energy Ltd is an AIM-listed oil and gas company focused primarily on upstream production activities in India.
The company holds a 50% working interest in the Cambay Production Sharing Contract, where it operates a portfolio of legacy and horizontal wells. Gas produced from the field is transported through internal infrastructure to export facilities, with Synergia continuing to develop and optimise the asset to improve production performance.
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