BAKU, Azerbaijan, July 28
By Nargiz Sadikhova - Trend:
A subsidiary of Kazakhstan-based Nostrum Oil & Gas - Zhaikmunai LLP - will process gas and liquid gas-condensate hydrocarbons from Ural Oil & Gas’s field, Trend reports citing the Nostrum.
This is envisioned within the agreement signed between the Zhaikmunai LLP and Ural Oil & Gas LLP. Ural Oil and Gas has been operating within the Fedorovsky Block located administratively in the West Kazakhstan region.
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 April 9, 2023 to October 31, 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.
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.
The principal producing asset of Nostrum Oil & Gas PLC is the Chinarevskoye field, in which it holds a 100 percent interest and is the operator through its wholly-owned subsidiary Zhaikmunai LLP.
In addition, Nostrum Oil & Gas holds a 100 percent 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.