Nostrum’s current producing asset is the Chinareveskoye field – a 274km square licence located to the north of Uralsk, near to the Russian border. Both national and regional pipelines run in close proximity to our hub, allowing us to transport all processed products safely and efficiently.

The Chinarevskoye field has produced more than 100 million boe since 2004. It is positioned in the pre-Caspian basin, which is the location of numerous gas discoveries, including Rozhkovskoye field (Ural Oil & Gas LLP) and our neighbouring three licences.

Nostrum was first granted an exploration and production licence for the Chinarevskoye field in May 1997. The current production licence granted in 2008 covers 185km2, with validity to 2032 for the North-eastern Tournaisian reservoir, and until 2033 for all other oil and gas bearing reservoirs and horizons.

A grandfathered PSA exists between Nostrum and the Government of Kazakhstan, which specifies the exploration and development boundaries of the Chinarevskoye field. The PSA also addresses the respective royalties, profit share and tax liabilities payable to the government.

The licence and PSA are currently valid until 2032 (with respect to the North-eastern Tournaisian reservoir) and 2033 (for the rest of the Chinarevskoye field), and Nostrum must comply with the terms of the exploration permit, the production permit and the development plans during this period. To date, the Company has met all of its capital investment obligations under the PSA.