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Approval of Stepnoy Leopard Field Development Plan
Approval of Stepnoy Leopard Field Development Plan.
About this update from Nostrum Oil & Gas Plc
[{"type":"text","content":"\n\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 \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \nFOR IMMEDIATE RELEASE\n \n \nLondon, 4 April 2025\n \nMinistry of Energy Approval of Stepnoy Leopard Field Development Plan\n \nNostrum 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.\n \nIn 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.\n \nArfan Khan, Chief Executive Officer of Nostrum Oil & Gas, commented:\n \n\"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.\"\n \n \nLEI: 2138007VWEP4MM3J8B29\n \nFurther information\nFor further information please visit www.nostrumoilandgas.com\n \nFurther enquiries\nNostrum Oil & Gas PLC \nPetr...