Unbiased power firm Nostrum Oil & Gasoline PLC has mentioned that its unit Zhaikmunai LLP agreed to proceed processing third-party hydrocarbons delivered by Ural Oil & Gasoline LLP beneath new phrases till Might 2031.
Ural O&G operates the Rozhkovskoye discipline, simply 20 kilometers (12.4 miles) from Zhaikmunai’s processing services in northwest Kazakhstan. Rozhkovskoye is a three way partnership between NC KazMunayGas (50 %), MOL Group (22.5 %), and FIOC-Sinopec (27.5 %), Nostrum famous.
Earlier agreements signed in 2018 in regards to the processing of uncooked gasoline and liquid condensate from Ural O&G are as a result of expire in December 2027. The brand new processing settlement, ranging from March 21, 2025, might be legitimate till Might 26, 2031, Nostrum mentioned.
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Manufacturing from the Rozhkovskoye discipline started in December 2023, with the primary nicely producing 0.3 million cubic meters of uncooked gasoline per day, and 4 further wells are anticipated to additional enhance manufacturing to 1.5 million cubic meters of gasoline per day, in line with MOL. MOL mentioned December 2023 the anticipated gasoline and condensate volumes recoverable from the Rozhkovskoye discipline had been 158.8 million barrels of oil equal (mmboe), comprising 101.5 mmboe of gasoline and 57.3 mmboe of condensate.
“This prolonged processing settlement is worth accretive to the present settlement and demonstrates the persevering with success of Nostrum’s mixed-asset technique and its capabilities as a dependable and environment friendly operator and accomplice. Securing further third-party hydrocarbon feedstock via to 2031, along with Nostrum’s plans to develop the upstream Stepnoy Leopard fields, symbolize vital steps in direction of meaningfully growing the utilization of Nostrum’s world-class processing services that can assist form a sturdy growth-oriented marketing strategy for the following decade”, Arfan Khan, Chief Govt Officer of Nostrum, mentioned.
“On the similar time, we acknowledge that the prolonged settlement is mutually useful for Ural O&G enabling additional discipline growth of the Rozhkovskoye discipline to the fullest extent”.
To contact the creator, e-mail andreson.n.paul@gmail.com
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