LONDON - Nostrum Oil & Gas PLC (LSE:NOG) has appointed Viktor Gladun as Chief Executive Officer, effective Tuesday, the company announced in a press release. Gladun, who was already serving as a director, will continue in his board role.

The London-listed energy company, which operates gas processing facilities in north-west Kazakhstan, also named Nikolay Ivin to its Board of Directors as a Non-Executive Director, effective the same day.

Gladun brings energy sector experience from his previous position as CEO and executive director at JKX Oil & Gas plc, a UK-headquartered hydrocarbon exploration company. His background includes executive financial roles at DTEK energy group and NIKO/Mitsubishi Motor in Ukraine, as well as a senior auditor position at TNK-BP.

Ivin, who serves as Managing Partner of Ziff-Ivin Associates Ltd, has expertise in corporate finance and management. His professional history includes positions at Houlihan Lokey (NYSE:HLI) (Europe),  Citigroup  (NYSE:C) EMEA, and GE Capital (USA). Since 2021, he has also been an independent supervisory board member of DTEK Energy B.V.

The company stated that these board changes have received consent in accordance with requirements of the warrant instrument dated February 9, 2023, ensuring no right to exercise warrants arises following these appointments.

Stephen Whyte, Chairman of the Board, noted that the company is beginning to "realise value from projects already put in place" while considering the scheduled maturity of the Group’s Senior Secured Notes and Senior Unsecured Notes due in June 2026.

Nostrum Oil & Gas operates primarily through the Chinarevskoye field in Kazakhstan and holds an 80% interest in Positiv Invest LLP, which controls subsoil use rights for areas in the West Kazakhstan region.

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