Agreement of condensate supplies off-take contract

RNS Number : 7456H

Nostrum Oil & Gas LP

22 May 2014

 

Nostrum agrees long-term off-take contract for

 condensate supplies with Trafigura

Amsterdam, 22 May 2014

Nostrum Oil & Gas LP (LSE: NOG.L) ("Nostrum"), the oil and gas exploration, development and production business is pleased to announce it has agreed a two-year contract to supply gas condensate via its wholly-owned operating subsidiary Zhaikmunai LLP ("the Company") to Trafigura Beheer B.V.

Under the contract signed with Trafigura the Company plans to sell approximately 720,000 tons of gas condensate to Trafigura over the next 24 months. Trafigura is one of the leading global commodities trading houses.

Commenting on the contract, Nostrum CEO Kai Uwe Kessel said:

"I am pleased to announce this deal as it forms a key part of our marketing strategy to try to optimise our transportation routes and obtain the best possible net backs for our products. I look forward to seeing the benefits of this agreement and to working with Trafigura."

Further information

For further information please visit www.nog.co.uk

Further enquiries

Nostrum Oil & Gas LP - Investor Relations

+ 31 20 737 2288

Bruno G. Meere

Kirsty Hamilton-Smith

[e-mail]                                                                                                    

Instinctif Partners - UK                                                                                           

+ 44 (0) 207 457 2020

David Simonson

Tony Friend

Catherine Wickman

Anca Spiridon

Promo Group Communications - Kazakhstan      

Asel Karaulova                                                                                                  

+ 7 (727) 264 67 37

About Nostrum Oil & Gas

Nostrum Oil & Gas is an independent oil and gas enterprise currently engaging in the production, development and exploration of oil and gas in north-western Kazakhstan. Its Global Depositary Receipts (GDRs) are listed on the London Stock Exchange (Ticker symbol: NOG). The principal producing asset of Nostrum Oil & Gas LP is the Chinarevskoye field, in which it holds a 100% interest and is the operator, through its wholly-owned subsidiary Zhaikmunai LLP. In addition, Nostrum Oil & Gas holds a 100% interest in and is the operator of the Rostoshinskoye, Darinskoye and Yuzhno-Gremyachenskoye oil and gas fields. Located in the pre-Caspian basin to the north-west of Uralsk, these exploration and development fields are approximately 60 and 120 kilometres respectively from the Chinarevskoye 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 Partnership 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 or guarantees, and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements.

 

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