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Appraisal Programme at the Stepnoy Leopard Fields
Appraisal Programme at the Stepnoy Leopard Fields.
About this update from Nostrum Oil & Gas Plc
[{"type":"text","content":"\n\n \nNOT 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\n \nLondon, 1 August 2023\n \nCommencement of Appraisal Programme at the Stepnoy Leopard Fields\n \nNostrum Oil & Gas PLC (LSE: NOG) (\"Nostrum\", or the \"Company\" and together with its subsidiaries, the \"Group\"), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, today is pleased to announce that on 31 July 2023, the Board of Directors of Nostrum approved an appraisal programme for the Stepnoy Leopard fields. \n \nThe appraisal programme would allow re-classification of certain of the contingent resources to proven reserves and help determine the commercially viable development schemes. The scope of work consists of re-entering two wells in the Teplovskoye reservoir, taking representative samples, and conducting extended production well testing in both wells. Rig operations are expected to start mid-September 2023.\n \nThe estimated cost of the appraisal programme is expected to be around US$6 million.\n \nThe Stepnoy Leopard fields, located about 100 km west of our world-class full-process infrastructure, are potentially an attractive Nostrum-operated upstream tie-back project that could deliver material reserves in addition to the Group's rapidly depleting resource base in the Chinarevskoye field.\n \nLEI: 2138007VWEP4MM3J8B29\n \nFurther information\nFor further information please visit www.nog.co.uk\n \nFurther enquiries\nNostrum Oil & Gas PLC \nUlugbek Makhmadiyarov\[email protected] &nb...