Nostrum Oil & Gas ( (GB:NOG) ) has issued an announcement.
Nostrum Oil & Gas PLC announced that the Ministry of Energy of Kazakhstan approved a phased, full-field development plan for the Stepnoy Leopard fields, extending until 2044. This approval marks a significant milestone in Nostrum’s strategy, enhancing the utilization of its gas processing facilities and boosting future cash flows. The development plan aligns with the company’s target production start-up between late 2026 and early 2027, optimizing capital allocation and strengthening its market position.
More about Nostrum Oil & Gas
Nostrum Oil & Gas PLC is an independent mixed-asset energy company with world-class gas processing facilities and an export hub located in north-west Kazakhstan. The company’s principal producing asset is the Chinarevskoye field, operated by its wholly-owned subsidiary Zhaikmunai LLP. Nostrum also holds an 80% interest in Positive Invest LLP, which manages the subsoil use rights for the Stepnoy Leopard fields in the West Kazakhstan region.
YTD Price Performance: 11.72%
Average Trading Volume: 128,988
Technical Sentiment Signal: Strong Buy
Current Market Cap: £5.41M
Learn more about NOG stock on TipRanks’ Stock Analysis page.