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FOR IMMEDIATE RELEASE
London, 4 September 2023
Re-Start of Gas Treatment Unit 3
Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or the "Company" and together with its subsidiaries, the "Group"), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, today announces the successful re-start of its state-of-the-art gas treatment unit 3 ("GTU-3").
Further to the Company's report on the GTU-3 re-start project status in its operational update on the 22 August 2023, the Company is pleased to announce that it has now safely and successfully completed the re-start of its c.$750 million state-of-the-art GTU-3 gas plant, with 2.5 billion cubic metres per annum gas processing capacity. The Company has completed the modifications and other works on GTU-3 subsequent to its commissioning and startup in 2019. The plant employs cutting-edge turbo-expander technology enabling improved efficiency in the extraction of LPG; the upgrades also reduced the plant operating turndown capacity. GTU-3 is operating as per design and delivering dry gas, LPG, and condensate to sales specifications.
Arfan Khan, Chief Executive Officer, commented:
"The flawless re-start of GTU-3 is a testament to the superb skill, dedication and team effort by our engineering and operations teams. This is an important milestone for the Company as it demonstrates the operational excellence of our combined 4.2 bcma gas process infrastructure in North West Kazakhstan, and it is now ready to receive third-party gas, in addition to receiving the feedstock from Ural Oil & Gas LLP expected to start in Q4 2023."
LEI: 2138007VWEP4MM3J8B29
Further information
For further information please visit www.nostrumoilandgas.com
Further enquiries
Nostrum Oil & Gas Plc
Petro Mychalkiw, Chief Financial Officer
Instinctif Partners - UK
Tim McCall
Galyna Kulachek
Vivian Lai
+ 44 (0) 207 457 2020
About Nostrum Oil & Gas
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 (ticker symbol: NOG) and the Astana International Exchange (ticker symbol: NOG). The principal producing asset of Nostrum Oil & Gas PLC is the Chinarevskoye field, which is operated by Zhaikmunai LLP, a wholly-owned subsidiary of Nostrum Oil & Gas PLC and the sole holder of the subsoil use rights with respect to the development of the field.
Forward-Looking Statements
Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of the Company or its officers with respect to various matters. When used in this document, the words "expects", "believes", "anticipates", "plans", "may", "will", "should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises nor guarantees and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements.
No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity, and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by the relevant listing rules and applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.
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