NOSTRUM OIL & GAS PLC provides update on agreements with Ural Oil and Gas

28.06.22 21:48
/KASE, June 28, 2022/ – NOSTRUM OIL & GAS PLC (United Kingdom), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated June 28, 2022: quote Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or "the Company"), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, announces that it has been informed by Ural Oil & Gas LLP (“Ural”) that Ural has signed a turnkey contract for complex construction works with a contractor in relation to Ural’s Rozhkovsky Field Development Project. As previously announced, Nostrum’s wholly-owned subsidiary Zhaikmunai LLP ("Zhaikmunai") and Ural signed agreements in 2018 pursuant to which Zhaikmunai will process gas from Ural’s Rozhkovsky Field (the "Agreements"). The Rozhkovsky Field is expected to start up production in the fourth quarter of 2023. The field will also be tied back remotely to Zhaikmunai's Chinarevskoye Field processing facilities pursuant to the Agreements mentioned above. Nostrum is currently carrying out the preparatory work necessary for it to process Ural's gas at that time. The Company will provide further updates regarding the project when appropriate. Nostrum also notes that the Company is continuing its discussions with other third parties regarding the processing of gas through Zhaikmunai’s infrastructure. unquote The full press release is available on KASE website: - – in Russian; - – in English. [2022-06-28]