NOSTRUM OIL & GAS PLC announces operating results for second quarter and six months ended 30 June 2022

29.07.22 19:35
/KASE, July 29, 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 July 29, 2022: quote Nostrum Oil & Gas PLC (LSE: NOG) ("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 its operational update in respect of the second quarter and six months ended 30 June 2022. H1 2022 Highlights - Daily production after treatment averaged 14,167 boepd (H1 2021: 18,107 boepd). - Daily sales volumes averaged 13,102 boepd (H1 2021: 16,249 boepd). - The Group continues its well and reservoir management strategy through well workovers and rigless well intervention in 2022. The programme proves to be non-capital intensive and offers reasonable risk/reward in the absence of drilling. - The Group has initiated a tie back project, budgeted for c.US$5m of capital expenditures, that will allow for the first ever third-party feedstock from Ural Oil & Gas LLP ("Ural OG") to be received for treatment in the Group's facilities by Q4 2023. This follows Ural OG's signing of a turnkey contract for complex construction works with a contractor in relation to Ural OG's Rozhkovsky Field Development Project. - The Directors are cognisant of the current and evolving sanctions list against Russian individuals and entities and have ensured the Group has conducted ongoing operations in compliance with these sanctions. - The Group continues to prioritize the safety of all staff and contractors as well as focussing on running sustainable operations. unquote The complete press release is available on: - https://kase.kz/files/emitters/GB_NTRM/gb_ntrm_relizs_290722.pdf – in Russian; - https://kase.kz/files/emitters/GB_NTRM/gb_ntrm_relizs_290722_en.pdf – in English. [2022-07-29]