Approach to our community
At Nostrum, we place great importance on building an integrated and secure community for our workforce. Our employee camp at the field site provides more than 460 beds and modern facilities, as well as a canteen, recreational areas and a health clinic. This ensures comfortable indoor living conditions throughout the year for our field site employees. In addition, our new corporate o ces in Uralsk were finished last year and o er both modern and secure facilities for sta .
We also support the communities around us through financing social infrastructure projects under the terms of our PSA agreement and subsoil use contracts for the Rostoshinskoye, Yuzhno-Gremyachinskoye and Darjinskoye fields. Such projects include improvement of infrastructure, repair of school facilities and charitable donations. Other initiatives carried out over the year include a children’s matinee for families of our employees, giving gift sets out on International Women’s Day and funding of local charities.
Liquidation fund contribution
Under the terms of the PSA and the subsoil use agreements for Rostoshinskoye, Yuzhno-Gremyachinskoye and Darjinskoye, Nostrum is building up a liquidation fund of US$23 million to provide funds for the removal of oil and property at the end of the PSA. US$6.66m is held on restricted cash accounts as a liquidation fund deposit (2016: US$5.98m).
Payment to governments
Nostrum is committed to transparency in its business activities and payments to governments. In 2016 a total of US$12,337,323 was paid to governments by Nostrum and
its subsidiary undertakings. We will report on 2017 payments to governments in the first half 2018. For more detail please see our website: www.nostrumoilandgas.com/en/ transparency.
Case study – social investment
Nostrum supports local universities through the provision of internships
to students, including those from the West Kazakhstan Agrarian Technical University. Practical training placements are open to all students who study a technical programme or subject and nearly 50 students were placed during 2016.