REG - Nostrum Oil & Gas - Update on Agreements with Ural Oil & Gas LLP

Nostrum Oil & GasAnnouncement

28/06/2022 11:45

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RNS Number : 4743Q  Nostrum Oil & Gas PLC  28 June 2022

 

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

London, 28 June 2022

 

 

Update on Agreements with Ural Oil & Gas LLP

 

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.

 

LEI: 2138007VWEP4MM3J8B29

 

Further information

For further information please visit www.nog.co.uk (http://www.nog.co.uk)

 

Further enquiries:

Shane Drader - Chief Financial Officer

ir@nog.co.uk (mailto:ir@nog.co.uk)

 

Instinctif Partners - UK

Tim McCall

Galyna Kulachek

Sarah Hourahane

+ 44 (0) 207 457 2020

nostrum@instinctif.com (mailto:nostrum@instinctif.com)

 

Notifying person

Thomas Hartnett

Company Secretary

 

About Nostrum Oil & Gas

Nostrum Oil & Gas PLC is an independent oil and gas company currently
engaging in the production, development and exploration of oil and gas in the
pre-Caspian Basin. Its shares are listed on the London Stock Exchange (ticker
symbol: NOG) and the Kazakhstan Stock Exchange (ticker symbol: GB_NTRM). The
principal producing asset of Nostrum Oil & Gas PLC is the Chinarevskoye
field that is being operated by a wholly-owned subsidiary of Nostrum Oil &
Gas PLC - Zhaikmunai LLP, who is the sole holder of the subsoil use rights
with respect to the development of the field.

 

Forward-Looking Statements

Some of the statements in this document are forward-looking. Forward-looking
statements include statements regarding the intent, belief and current
expectations of the Company or its officers with respect to various matters.
When used in this document, the words "expects", "believes", "anticipates",
"plans", "may", "will", "should" and similar expressions, and the negatives
thereof, are intended to identify forward-looking statements. Such statements
are not promises nor guarantees and are subject to risks and uncertainties
that could cause actual outcomes to differ materially from those suggested by
any such statements.

No part of this announcement constitutes, or shall be taken to constitute, an
invitation or inducement to invest in the Company or any other entity, and
shareholders of the Company are cautioned not to place undue reliance on the
forward-looking statements. Save as required by the relevant listing rules and
applicable law, the Company does not undertake to update or change any
forward-looking statements to reflect events occurring after the date of this
announcement.

 

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