Nostrum Oil & Gas appoints Stephen Whyte as Board Chairman alongside Chris Cox, Christopher Hopkinson and Fiona Paulus as Independent Directors

– NETHERLANDS, Amsterdam –  Nostrum Oil & Gas PLC (LON: NOG), an independent oil and gas company, today announced the following changes to its Board of Directors effective from 14 February 2023:

  • Atul Gupta has stepped down as Executive Chair and from the Board;
  • Sir Christopher Codrington, Bt, Martin Cocker and Kaat van Hecke have each stepped down from the Board;
  • Stephen Whyte has been appointed as Independent Chair and a Non-Executive Director;
  • Martin Gudgeon has been appointed as a Non-Executive Director;
  • Chris Cox, Christopher Hopkinson, and Fiona Paulus have been appointed as Independent Non-Executive Directors.

Stephen Whyte, Board Chair, said: “I am pleased that Nostrum has attracted such a high caliber new Board of Directors to support our strong executive team. I am confident they will play an important role in helping to unlock the value of the Group’s world-class gas processing infrastructure in Kazakhstan whilst guiding the executive team in safeguarding the base business.”

About Stephen Whyte

Stephen Whyte is a seasoned FTSE and AIM Chairman and Non-Executive Director in the global energy sector with direct experience in Kazakhstan. Stephen was previously Chairman at Genel Energy and Sound Energy and a Non-Executive Director at Echo Energy and JSC National Company KazMunaiGas. Stephen was appointed as a Board observer to the Company on behalf of the noteholders during the Restructuring. Stephen is also an Independent Non-Executive Director at Beacon Energy.

About Chris Cox

Chris Cox brings over 40 years of experience in the global oil and gas upstream sector to the Board. Having held various senior roles with BG Group, Amerada Hess, and Chevron throughout his career, Chris served most recently as CEO of Spirit Energy and Managing Director of Centrica Plc. His advisory experience includes serving as Non-Executive Chairman of Kellas Midstream from 2015 to 2020. Chris is currently a director and the interim CEO of Capricorn Energy plc.

About Martin Gudgeon

Martin Gudgeon is a Partner and Chairman of the EMEA & Asia Restructuring and Special Situations Group at PJT Partners, based in London. Mr. Gudgeon is also a member of the firm’s RSSG Operating Committee. Before joining PJT Partners, Mr. Gudgeon worked at Blackstone for eight years as a Senior Managing Director. Previously, Mr. Gudgeon was CEO and Head of Restructuring at Close Brothers. Martin was previously a Non-Executive Director at Genel Energy.

About Christopher Hopkinson

Christopher Hopkinson has 35 years of experience in the global oil and gas and energy sectors. Chris began his career with Shell International, followed by technical and management roles with Yukos and Lukoil Overseas, before becoming CEO of Imperial Energy Group up until its acquisition by ONGC in 2009. He was then VP of Western Siberia for TNK-BP, SVP of North Africa for BG Group, CEO of International Petroleum Limited, and COO for JSC National Company KazMunaiGas. Chris is currently non-executive Chairman of Enwell Energy, interim Executive Chairman of IGas Energy, and founder of Astra Resources Management and Antelopus Energy.

About Fiona Paulus

Fiona Paulus has 37 years of investment banking experience. She has held senior roles at leading international investment banks. These include Head of International Investment Banking at CIBC, EMEA Head of Private Equity & Infrastructure Funds at Royal Bank of Scotland, Global Head of Energy and Resources at ABN AMRO Bank, and various senior roles at Societe Generale, JPMorgan & Citigroup in the UK, Europe, Australia, and Latin America. Fiona is a Senior Adviser in the Metals & Mining business at Gleacher Shacklock LLP and is currently a Non-Executive Director at Interpipe Group and JSW Steel Limited.

About Nostrum Oil & Gas

Nostrum Oil & Gas PLC is an independent oil and gas company currently engaging in producing, developing, and exploring oil and gas in the pre-Caspian Basin. Its shares are listed on the London Stock Exchange (ticker symbol: NOG), the Astana International Exchange (ticker symbol: NOG), and the Kazakhstan Stock Exchange (ticker symbol: GB_NTRM). The principal producing asset of Nostrum Oil & Gas PLC is the Chinarevskoye field, which is being operated by a wholly-owned subsidiary of Nostrum Oil & Gas PLC – Zhaikmunai LLP, who is the sole holder of the subsoil use rights concerning the development of the field.

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