Nostrum Oil & Gas completes sale of assets in Kazakhstan

ASTANA. Oct 19 (Interfax) - Nostrum Oil & Gas has completed the sale of assets in Kazakhstan and fully repaid its Senior Secured Notes (SSNs), the company said.

"Nostrum Oil & Gas Finance B.V. has sold its participating interests in the charter capital of Zhaikmunai LLP and Positiv Invest LLP, together with its rights under certain related loan agreements, to Altaris Holding Ltd.," the company said in a statement published on the London Stock Exchange.

The total consideration for the transaction at the time of its completion amounted to $304.6 million, it said.

Simultaneously with the completion of the transaction, the group financed the full repayment of the SSNs maturing in 2026, including the outstanding principal amount of debt, accrued and unpaid interest, as well as overdue interest.

"Completion marks the sale of Nostrum's Kazakhstan operating businesses, the end of nearly three decades of the Group's operating presence in Kazakhstan and a major step in its deleveraging and value-realisation process," it said.

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

Nostrum Oil & Gas is an independent company engaged in oil and gas production, exploration and development in the Caspian Basin. Its shares are listed on the London Stock Exchange.

Zhaikmunai, its former Kazakh subsidiary, carries out exploration, production and sale of oil and gas condensate. Its license area covers the Chinarevskoye field in the northern part of the oil-rich Caspian Basin in West Kazakhstan region, near the border with Russia and several major pipelines.

In July 2023, Nostrum bought an 80% stake in Positiv Invest for $20 million. Positiv Invest holds subsoil use rights to the Stepnoy Leopard group in northwestern Kazakhstan under a contract valid until December 2044.