The development plan for the Stepnoy Leopard fields has been approved in Kazakhstan
The Ministry of Energy of the Republic of Kazakhstan has approved a phased development plan for the Stepnoy Leopard group of fields, located in the West Kazakhstan Region. The project's implementation is scheduled until 2044. This was reported by the British company Nostrum Oil & Gas, which holds an 80 percent stake in the development.
According to a statement released by the company on the London Stock Exchange website, the development plan received approval on April 3, 2025. Previously, in July 2023, the Board of Directors of Nostrum approved a geological exploration program for the fields, valued at $6 million. Work commenced in September of the same year, and by July 2024, the company had submitted a detailed report on the project.
The document indicates that the total proved and probable hydrocarbon reserves amount to 138 million barrels of oil equivalent, of which approximately a quarter are liquid hydrocarbons. Production at Stepnoy Leopard is planned to commence between late 2026 and early 2027. As noted by Arfan Khan, Chief Executive Officer of Nostrum Oil & Gas, the project will be an important contribution to the efficiency of the company's gas processing facilities, particularly in the context of the recently extended agreement with the enterprise "Ural Oil & Gas".
The latter is a joint venture between “KazMunayGas” (50%), MOL Group (22.5%), and FIOC-Sinopec (27.5%). Nostrum Oil & Gas, registered in the United Kingdom, is engaged in the exploration and production of oil and gas in Kazakhstan. Its key asset remains the Chinarevskoye field, the operator of which is its subsidiary “Zhaikmunai”, which holds all subsoil usage rights in the area.
Among the largest shareholders of Nostrum Oil are ICU Holdings, registered in the British Virgin Islands, and the British company First Equity Ltd.
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