/KASE, July 24, 2023/ – Zhaikmunai LLP (Oral), whose bonds are officially listed
on Kazakhstan Stock Exchange (KASE), has provided KASE with the following
press release dated July 24, 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 successful start-up of the new
compressor doubling Nostrum's Gas lift capacity, which helps slowing down
production decline from maturing Chinarevkoye field.
As the demand for gas lift has been growing due to the majority of the producing
wells requiring it to sustain production, in early 2022 Nostrum funded the
addition of further compression to raise the capacity of the system from 500 to
900 thousand m3/ day for circa US$8 million. Notwithstanding the significant
delays in delivery of the new compressor due to the sanctions on Russia, the
Company managed to successfully complete and commence the project in line with
budget and without any major HSE incidents. The initial production gains exceed
management’s expectations and further updates on production guidance will be
provided as part of Q3 2023 operational update.
unquote
The complete press release is available on:
-
https://kase.kz/files/emitters/ZHMN/zhmn_relizs_240723.pdf – in Russian;
-
https://kase.kz/files/emitters/ZHMN/zhmn_reliz_240723_en.pdf – in English.
[2023-07-24]