Ural Oil & Gas LLP gas processing update

RNS Number : 3186G

Nostrum Oil & Gas PLC

23 July 2021

 

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

London, 23 July 2021

Ural Oil & Gas LLP gas processing update

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, today provides an update on the agreements that its wholly-owned subsidiary Zhaikmunai LLP ("Zhaikmunai") has with Ural Oil & Gas LLP ("Ural OG"), pursuant to which Zhaikmunai will process gas and liquid gas-condensate hydrocarbons from Ural OG's field (the "Agreements"). This announcement follows the update on this subject issued by Nostrum on 9 March 2020.

Zhaikmunai and Ural OG have agreed to extend the deadline under the Agreements for Ural OG's first delivery of gas and liquid gas-condensate hydrocarbons to Zhaikmunai by approximately six months, from 9 April 2023 to 31 October 2023.  The extension was requested by Ural OG as a result of circumstances relating to the COVID-19 pandemic.

Zhaikmunai and Ural OG have also agreed to co-operate in order to achieve first deliveries as foreseen in the Agreements and in any case by the amended deadline set out therein.

Further updates on the progress of the project, as well as the expected date for first deliveries under the Agreements, will be provided when appropriate.

Disclosure of inside information relating to Nostrum Oil & Gas PLC.

LEI: 2138007VWEP4MM3J8B29

Further information

For further information please visit www.nog.co.uk  

Further enquiries

Nostrum Oil & Gas PLC  

Martin Cocker - Chief Financial Officer

[e-mail]    

Instinctif Partners - UK      

Tim McCall

Sarah Hourahane

Galyna Kulachek

+ 44 (0) 207 457 2020

[e-mail]

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). 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 oil and gas field through the same subsidiary. Located in the pre-Caspian basin to the north-west of Uralsk, this exploration and development field is situated approximately 100 kilometres 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 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 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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