REG - Nostrum O&G Finance - Board Changes

OMV AGAnnouncement

19/02/2020 13:48

RNS Number : 9532W
Nostrum Oil & Gas Finance B.V.
16 December 2019
 


 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION
 
 
Amsterdam, 16 December 2019
 
 
Board Changes
 
 
Nostrum Oil & Gas Finance B.V notes the announcement today of its parent company, Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", "Nostrum Oil & Gas", 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, who today announces Nostrum's Board and Kai-Uwe Kessel, Chief Executive Officer, have mutually agreed that Kai will step down from the Board with effect from 16 December 2019.  Kai will be succeeded by Kaat Van Hecke, current Independent Non-Executive Director at Nostrum, as Chief Executive Officer with effect from the same date.
 
Kaat Van Hecke has served as an independent non-executive director since 31 December 2016.  She has 24 years of experience in the petrochemical and upstream oil business.  She has held a variety of executive positions with ExxonMobil, Shell and Österreichische Mineralölverwaltung (OMV) in Austria, Russia, Nigeria, The Netherlands and Belgium the most recent of which was as Managing Director and Senior Vice President heading up OMV's Austrian upstream business.
 
Atul Gupta, Chairman of Nostrum, commented:
 
"On behalf of the Board and management of Nostrum, I would like to thank Kai for his contributions to Nostrum over the last 15 years.  I am delighted that Kaat, during this period of strategic review, is stepping up to take the executive role at Nostrum".
 
Further announcements may be made regarding consequential changes to the composition of the Board committees when appropriate.
 
The strategic review remains ongoing and we will update the market with any developments in due course.
 
There are no matters which require additional disclosure under LR 9.6.13R.
 
Disclosure of inside information in accordance with Article 17 of Regulation (EU) 596/2014 (16 April 2014) relating to Nostrum Oil & Gas Finance B.V., Nostrum Oil & Gas PLC and Zhaikmunai LLP.
 
LEI: 213800SGF6UKA42KSB50
 
Further information
For further information please visit www.nog.co.uk 
 
Further enquiries
Nostrum Oil & Gas PLC - Investor Relations
Kirsty Hamilton-Smith
Amy Barlow
+44 203 740 7433
ir@nog.co.uk                                                                                                    
 
Instinctif Partners - UK                                                                                                 
Mark Garraway
Dinara Shikhametova
Sarah Hourahane
+ 44 (0) 207 457 2020
 
Promo Group Communications - Kazakhstan
Asel Karaulova
Irina Noskova 
+ 7 (727) 264 67 37
                                                                                     
Notifying person
Thomas Hartnett
Company Secretary
 
About Nostrum Oil & Gas Finance B.V. and Nostrum Oil & Gas
Nostrum Oil & Gas Finance B.V. is the finance subsidiary of Nostrum Oil & Gas PLC, and the issuer of the Nostrum group's public debt, which is guaranteed, among other group entities, by Nostrum Oil & Gas PLC.  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). The principal producing asset of Nostrum Oil & Gas PLC is the Chinarevskoye field, in which it holds a 100% interest and is the operator through its wholly-owned subsidiary Zhaikmunai LLP. In addition, Nostrum Oil & Gas holds a 100% interest in and is the operator of the Rostoshinskoye, Darinskoye and Yuzhno-Gremyachenskoye oil and gas fields through the same subsidiary. Located in the pre-Caspian basin to the north-west of Uralsk, these exploration and development fields are situated approximately 60 and 120 kilometres respectively from the Chinarevskoye 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 Partnership 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 or 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 Nostrum Oil & Gas Finance B.V., the Company or any other entity, and shareholders of the Company and bondholders of Nostrum Oil & Gas Finance B.V. are cautioned not to place undue reliance on the forward-looking statements. Save as required by the relevant listing rules and applicable law, neither Nostrum Oil & Gas Finance B.V. nor the Company undertakes to update or change any forward-looking statements to reflect events occurring after the date of this announcement.
 
 
This announcement has been issued through the Companies Announcement Service of Euronext Dublin.




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