Nostrum Oil & Gas PLC Update on Agreements with Ural Oil & Gas LLP (4743Q)
June 28 2022 - 6:39AM
UK Regulatory
TIDMNOG
RNS Number : 4743Q
Nostrum Oil & Gas PLC
28 June 2022
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
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
Further enquiries:
Shane Drader - Chief Financial Officer
ir@nog.co.uk
Instinctif Partners - UK
Tim McCall
Galyna Kulachek
Sarah Hourahane
+ 44 (0) 207 457 2020
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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