Nostrum Oil & Gas PLC Re-Start of Gas Treatment Unit 3 (1970L)
04 September 2023 - 8:00AM
UK Regulatory
TIDMNOG
RNS Number : 1970L
Nostrum Oil & Gas PLC
04 September 2023
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PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
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JURISDICTION
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
ir@nog.co.uk
Instinctif Partners - UK
Tim McCall
Galyna Kulachek
Vivian Lai
+ 44 (0) 207 457 2020
nostrum@instinctif.com
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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