25th Aug 2021 08:43
(Alliance News) - Nostrum Oil & Gas PLC on Wednesday announced the sale of its interest in the Rostoshinskoye field in Kazakhstan.
The exploration and production company said that the sale was the most cost-effective option. It didn't provide the name of the buyer nor the price received.
Shares were untraded in London on Wednesday morning, last quoted at 10.27p.
The exploration period under the contract for the field is due to expire on August 16, 2022, Nostrum noted. Reserves of 31.3 million barrels of oil equivalent in respect of the field were classified as contingent resources at the end of last year.
In October last year, Nostrum sold its rights and obligations for the Darinskoye and Yuzhno-Gremyachenskoye fields, also in the pre-Caspian basin.
By Will Paige; [email protected]
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