/KASE, August 2, 2018/– NOSTRUM OIL & GAS PLC (London), whose shares are officially
listed on Kazakhstan Stock Exchange (KASE), has provided press release to KASE
dated August 2, 2018, which states the following:
quote
Zhaikmunai LLP, a subsidiary of Nostrum Oil & Gas PLC (“Nostrum” or “the
Company” and together with its subsidiaries “the Group”) an independent oil and
gas company engaging in the production, development and exploration of oil and
gas in the pre-Caspian Basin, today announces it has entered into binding
agreements to process third party hydrocarbons delivered by Ural Oil & Gas LLP
(“UOG”).
UOG is a company that is owned by KazMunaiGas (“KMG”) (50%), Sinopec (27.5%) and
MOL Group (“MOL”) (22.5%). According to the 2017 KMG Annual Report, the Rozhkovskoye
field has 196 million boe 2P reserves booked. Research produced by Wood Mackenzie
states that the company has already drilled and completed eight wells in the
Rozhkovskoye field. The Rozhkovskoye field is within 20km of Nostrum’s Chinarevskoye field.
Once UOG has obtained all necessary internal approvals they will fund the
infrastructure required to deliver the hydrocarbons to the boundary of the
Chinarevskoye field. The high level commercial terms comprise of two parts.
Firstly, a tolling fee for the stabilisation of liquid condensate which will be
US$8 per barrel and secondly the purchasing of raw gas from UOG at a price to
be agreed at the point of delivery.
unquote
The full press release is available on KASE website –
http://kase.kz/files/emitters/ZHMN/zhmn_reliz_020818_eng.pdf
[2018-08-02]