Zhaikmunai provides Q1 2023 operational update on NOSTRUM OIL & GAS PLC

02.05.23 12:05
/KASE, May 2, 2023/ – Zhaikmunai LLP (Oral), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated April 28, 2023: 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 Nostrum’s operational update in respect of the three months ended 31 March 2023. Highlights: Operational - Daily production after treatment for Q1 2023 averaged 10,479 boepd (Q1 2022: 14,683 boepd). - Daily sales volumes for Q1 2023 averaged 7,276 boepd (Q1 2022: 14,059 boepd). Oil inventory as at quarter-end totalled approximately 254,000 boe which is expected to be sold in Q2 2023. - The Group continues its well and reservoir management strategy through well workovers and rigless well intervention in 2023. - The Group is continuing to progress with a tie-back project, budgeted for c.US$5m of capital expenditures. It 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 with an expected start in Q4 2023. - The Group, whilst not itself a target of sanctions imposed in connection with the conflict in Ukraine, continues to monitor the current and evolving lists of individuals and entities who are subject to sanctions with a view to compliance by the Group with all applicable sanctions and to ensuring that the Group’s ongoing activities are not materially affected by such sanctions. - The Group continues to prioritise the safety of all staff and contractors as well as focussing on conducting sustainable operations. unquote The complete press release is available on: - https://kase.kz/files/emitters/ZHMN/zhmn_relizs_280423.pdf – in Russian; - https://kase.kz/files/emitters/ZHMN/zhmn_reliz_280423_en.pdf – in English. [2023-05-02]