Caspian Sunrise PLC (LSE:CASP) released its full-year 2024 financial and operational update, reporting total revenue of $52.3 million, supported by contributions from oil trading and oilfield services. The company completed the $88 million sale of its shallow structures at the BNG Contract Area, prompting a shift in its production strategy. Despite regulatory setbacks and declining output, Caspian Sunrise still delivered higher revenue and profitability for the year. The acquisition of the West Shalva Contract Area and the award of a 25-year production licence for the Airshagyl structure provide new momentum for future development. Management remains focused on advancing its existing portfolio while continuing to assess additional mineral opportunities.
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Caspian Sunrise PLC operates across oil exploration and production, oil trading, and onshore/offshore oilfield services, with core activities centred in Kazakhstan. The company also maintains interests in mineral exploration, production, and other commercial ventures.
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