Ministry of Energy Approval of Stepnoy Leopard Field Development Plan
Nostrum Oil & Gas PLC (LSE: NOG) (“Nostrum”, or the “Company” and together with its subsidiaries, the “Group”), an independent mixed-asset energy company with world class gas processing facilities and export hub in north-west Kazakhstan, today announces that on 3rd April 2025 the Ministry of Energy of the Republic of Kazakhstan approved a phased, full-field development plan extending until 2044 (the “FDP”) for the Stepnoy Leopard fields (“SL Fields”) in which Nostrum has an 80% working interest.
In July 2024, the Company provided a Stepnoy Leopard Competent Person’s Report, an independent third-party evaluation of the reserves and resources of the SL Fields as at 1 January 2024 prepared by Xodus Group Limited, with 138 mmboe (including approximately 25% liquids) proved plus probable (2P) gross reserves reported.
Arfan Khan, Chief Executive Officer of Nostrum Oil & Gas, commented:
“Obtaining the FDP approval for the SL Fields is a key project milestone in the Company’s mixed-asset strategy. Together with the recently announced new UOG processing agreement extension, future production from the SL Fields will improve materially the utilization of our world class 4.2 bcma gas processing facilities and the resulting cashflows. A phased full-field development plan also allows the Company to deploy optimum capital allocation, whilst meeting its target production start-up date between late 2026 and early 2027.”
LEI: 2138007VWEP4MM3J8B29
Further information
For further information please visit www.nostrumoilandgas.com
Further enquiries
Nostrum Oil & Gas PLC
Petro Mychalkiw
Chief Financial Officer
Instinctif Partners – UK
Galyna Kulachek
Amelia Thorn
+ 44 (0) 207 457 2020
Notifying person
Thomas Hartnett
Company Secretary
About Nostrum Oil & Gas
Nostrum Oil & Gas PLC is an independent mixed-asset energy company with world-class gas processing facilities and export hub in north-west Kazakhstan. 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 which is operated by its wholly-owned subsidiary Zhaikmunai LLP, which is the sole holder of the subsoil use rights with respect to the development of the Chinarevskoye field. The Company also owns an 80% interest in Positive Invest LLP, which holds the subsoil use rights for the “Kamenskoe” and “Kamensko-Teplovsko-Tokarevskoe” areas in the West Kazakhstan region (the Stepnoy Leopard fields).
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.
