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Kazakh Zhaikmunai changes name

Oil&Gas Materials 11 December 2013 15:42
Zhaikmunai L.P., the oil and gas exploration and production enterprise with assets in Kazakhstan, has changed its name to Nostrum Oil & Gas LP

Baku, Azerbaijan, Dec. 11
By Elena Kosolapova- Trend: Zhaikmunai L.P., the oil and gas exploration and production enterprise with assets in Kazakhstan, has changed its name to Nostrum Oil & Gas LP, the company said on Dec. 11.

A Special General Meeting of limited partners on Nov. 29 made the decision.

Nostrum Oil & Gas LP is an independent oil and gas enterprise currently operating in north-western Kazakhstan.

Its main asset is the Chinarevskoye field located in the northern part of the oil-rich pre-Caspian basin. Other assets currently include the Rostoshinskoye field, the Darjinskoye field, and the Yuzhno-Gremyachenskoye field, which are all located in the vicinity of the Chinarevskoye field and its Gas Treatment Facility (GTF).

Nostrum Oil & Gas LP focuses on creating long-term shareholder value through the discovery and development of oil and gas reserves as well as the production and sale of crude oil, stabilized condensate, LPG and dry gas. The Partnership is committed to a long-term strategy of developing its hydrocarbon fields efficiently, as part of its environmentally friendly and socially responsible approach.

"The change of name reflects the development of the Partnership into a multi-asset operator, as well as the Partnership's current profile and strategy of expanding its portfolio of producing assets and pursuing its growth strategy," the company said.

The Partnership's principal operating subsidiary in Kazakhstan will continue to operate under the name of Zhaikmunai LLP.

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