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Nostrum Oil & Gas Secures Approval for Stepnoy Leopard Field Development

Story Highlights
  • Nostrum Oil & Gas received approval for the Stepnoy Leopard fields development plan.
  • The plan enhances facility utilization and aligns with production targets for 2026-2027.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Nostrum Oil & Gas Secures Approval for Stepnoy Leopard Field Development

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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.

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