Nostrum Oil & Gas sells assets in Kazakhstan to Altaris Holding, owned by Rakishev

ASTANA. Aug 17 (Interfax) - Zhaikmunai LLP (a subsidiary of Nostrum Oil & Gas) is selling its assets in Kazakhstan to Altaris Holding, the company said in a statement posted on the website of the Astana International Exchange (AIX).

"Zhaikmunai LLP has entered into an agreement for the sale of participatory interests in the charter capital of Zhaikmunai LLP and Positive Invest LLP to Altaris Holding, owned by Fincraft Energy Holding Limited and Alturion Holding Limited," the statement said.

The transaction totals $304.6 million.

The transaction may be completed subject to a number of conditions, including obtaining permission from Kazakhstan's antitrust authorities, the consent of the country's Energy Ministry and QazaqGaz, passing shareholder approval procedures and exercising the pre-emptive right with respect to Positive Invest LLP, as well as confirmation of financing from the buyer.

The deadline for fulfilling the conditions of the transaction is September 15, 2026.

It is also reported that the company expects to fully repay all outstanding amounts under the senior secured notes and partially outstanding amounts under the senior unsecured notes.

Nostrum Oil & Gas Plc is an independent company engaged in oil and gas production, as well as exploration and development of oil and gas fields in the Caspian basin. Nostrum shares are listed on the London Stock Exchange (LSE).

The Kazakh subsidiary of Nostrum Oil & Gas Plc, Zhaikmunai LLP, carries out exploration, production and sale of oil and gas condensate. The license area developed by the company covers the Chinarevskoye field in the northern part of the oil-rich Caspian basin, located in the West Kazakhstan region near the Kazakh-Russian border and next to several major pipelines.

Nostrum acquired an 80% stake in Positive Invest LLP, which holds the right to use the subsoil of the Steppe Leopard group in northwestern Kazakhstan with a contract term until December 2044, for $20 million in July 2023.

The co-founders of Altaris Holding Ltd. registered in the Astana International Financial Centre at the end of June 2026 are Fincraft Energy Holding Limited, owned by Kenes Rakishev, and Alturion Holding Ltd.