REG - Caspian Sunrise plc - Exemption from future Historic Costs at the BNG

Caspian SunriseAnnouncement

04/12/2025 08:45

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RNS Number : 2591K  Caspian Sunrise plc  04 December 2025

 

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information
is disclosed in accordance with the Company's obligations under Article 17 of
the UK MAR. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

 

Caspian Sunrise PLC ("Caspian Sunrise")

Exemption from future Historic Costs at the BNG Contract Area

 

The Board of Caspian Sunrise is pleased to announce that the Investment
Committee of the Government of the Republic of Kazakhstan has notified the
Group that the BNG deep structures will be transitioned to the terms of a
typical contract, as a result of which the Group expects a reduction in
certain tax obligations, including Historical Costs payments, related to the
BNG deep structures.

 

The expected reduction of certain tax obligations, including Historical Costs
payments, related to the BNG Contract Area's deep structures is therefore a
major positive development for which the Investment Committee should be
congratulated. It should help enable a potentially world class asset to be
developed for the benefit of all stakeholders including the Kazakh state.

 

Comment

 

Clive Carver, Chairman said

 

"The expected reduction in Historic Costs at the BNG Contract Area deep
structures will speed up the development of this highly prospective asset."

 

Contacts:

 

 Zeus               +44 (0) 203 829 5000

 James Joyce

 James Bavister

 Andre de Andrade

 

 

This announcement has been posted to:

www.caspiansunrise.com/investors (http://www.caspiansunrise.com/investors)

Mr. Sunjin Chang, a member of the Association of Petroleum Engineers, has
reviewed and approved the technical disclosures in this announcement.

 

The person responsible for arranging the release of this announcement on
behalf of the Company is Clive Carver, Chairman of the Company.

 

This announcement has been posted to:

www.caspiansunrise.com/investors (http://www.caspiansunrise.com/investors)

 

 

 

 

 

 

 

 

 

 

 

 

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