Nostrum Oil & Gas
- Uralsk, Kazakhstan
- Year of initial investment:
- Minority stake
Nostrum Oil & Gas (formerly Zhaikmunai) is a multi-field E&P enterprise currently operating in north-west Kazakhstan. Its main producing asset is the Chinarevskoye field located in the northern part of the oil-rich pre-Caspian basin. Other assets currently include the Rostoshinskoye field, the Darjinskoye field, and the Yuzhno-Gremyachenskoye field, which are all located in the vicinity of the Chinarevskoye field and its Gas Treatment Facility (GTF).
Nostrum Oil & Gas focuses on creating long-term shareholder value through the exploration and development of oil and gas reserves as well as the production and sale of crude oil, stabilised condensate, LPG and dry gas. The Company is committed to a long-term strategy of developing its hydrocarbon fields efficiently, as part of its environmentally friendly and socially responsible approach.
The company showed strong operating results in 2013, increasing average daily production by 25% to 46,178 barrels of oil equivalent per day (boepd). The Company had revenues of $895 million (21% up y-o-y).
BVPEF IV (as an anchor investor) invested into the company when the company needed capital to complete GTF construction in 2009. This investment enabled the Company to complete the construction and bring gas-condensate production from zero to the current level of more than 3.5mln cub meters/day of dry gas, 400t/day of LPG and 1600t/day of stabilized condensate. Oil production remains at more than 800t/day level.
Currently, the company is designing the third train of the GTF and construction is expected to commence in 2015. This will more than double the Company’s production capacity bringing to almost 100,000 boepd once fully operational.