Business
Full Year Results
Full Year Results.
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\nFOR IMMEDIATE RELEASE\n \nLondon, 23 April 2025\n \nFull Year Results for the Year Ended 31 December 2024\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, is pleased to announce its results for the twelve months ended 31 December 2024 (\"FY 2024\"), together with the publication of its 2024 Annual Report.\n \nNostrum's senior executives will present the FY 2024 results and will be available for a Q&A session with analysts and investors at 2pm UK, 23 April 2025. Anyone wishing to participate in this call should register using the following link: Results Call.\n \n \nArfan Khan, Chief Executive Officer of Nostrum Oil & Gas PLC, commented:\n \n\"In 2024 and early 2025, we continued driving value realisation by executing our mixed-asset energy strategy, achieving key milestones in upstream production growth, infrastructure utilisation, and financial stability. Key achievements included the successful ramp-up of raw gas feedstock from Ural Oil & Gas LLP (\"Ural O&G\"), additional production from our limited-scale Chinarevskoye drilling programme, as well as continuing production benefits from our 2023 gas lift expansion project at our Chinarevskoye field. Our operations delivered a 48% year-over-year increase in titled production volumes and nearly doubled our processed volumes, with processing facility availability averaging approximately 98% for the year.\n \nOur financial performance was equally robust, with significant revenue and EBITDA growth and reduced operating expenses per barrel, reflecting enhanced processing efficiencies and disciplined cost management. We also maintained a strong liquidity position with net positive operating cashflows of US$33.1 million and unrestricted cash at year end of US$150.4 million (unrestricted cash at year end of US$178.1 million before one-off cashflow items).\n \nThe Stepnoy Leopard fields represent a transformative growth...