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IN BRIEF: Nostrum launches new compressor despite Russia sanctions

Mon, 24th Jul 2023 10:27

Nostrum Oil & Gas PLC - London-based, Caspian Basin-focused independent oil and gas company - Celebrates "successful" launch of new compressor which is "doubling" its gas lift capacity at maturing Chinarevkoye field and reducing production decline there. Says start-up was completed in line with budget despite "significant delays" to delivery due to sanctions on Russia. Nostrum adds that "initial production gains exceed management's expectations".

Current stock price: 11.40 pence, up 7.6%

12-month change: Multiplied

By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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