Nelson Resources completes acquisition of a 50% participatory interest in the North Buzachi oil field in western Kazakhstan
Published:
8 February 2004 y., Sunday
Nelson Resources Limited (TSX: NLG) announced today that it has completed the final phase of the acquisition of a 50% interest in the hydrocarbon license to North Buzachi oil field. As previously announced, a 35% interest in the license to the field was purchased for US$58
million from CNPC International, an affiliate of the China National Oil
Company.
Having now received the necessary government approvals and paid to
CNPC International US$ 32 million, the transfer of the remaining 15% interest in the license has been completed.
As previously disclosed, financing of US$90 million has been provided
under an interim financing facility arranged through Credit Suisse First
Boston, London Branch. Subject to further negotiation, it is expected that the interim facility will be replaced by a term loan facility.
Also as previously announced, a definitive Joint Operating Agreement was
executed by the parties allowing for the operation of the field through a
joint operating company, in which both parties will share, on a 50/50 basis, decision making authority and funding responsibility.
Šaltinis:
CNW
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Women in the EU earn on average 18% less than men - a gap that has scarcely narrowed over the last 15 years and in some countries has even grown.
more »
43 gas and electricity projects to split €2.3bn, the most the EU has ever spent on energy infrastructure in a single package.
more »
Georgia and the European Union have initialled a comprehensive air services agreement at a meeting in Tbilisi, Georgia, today which will open up and integrate the respective markets, strengthen cooperation and offer new opportunities for consumers and operators.
more »
In order to vitalize and strengthen cooperation of business stakeholders in the region, the Nordic and Baltic countries continue running joint mobility programme.
more »
The EBRD is boosting the availability of financing to the real economy sector in Serbia, with a €20 million credit line to Société Générale Serbia for on-lending to small and medium enterprises.
more »
The EBRD is supporting the development of the private sector in Armenia and increases further the availability of financing in the real economy sector with a $10 million loan to Ameriabank for on lending to local companies under its Medium Sized Co-financing Facility (MCFF).
more »
The EBRD is supporting the modernisation and improvement of transport infrastructure in Albania with a €50 million sovereign loan to finance the rehabilitation of regional and local roads in the country.
more »
Given the deep impact Latvia has suffered in the wake of the global crisis, and due to the emergency nature of this program, the first operation will focus mainly on the first and second objectives.
more »
Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), will visit Africa March 7-11, to discuss opportunities and challenges facing African economies in the wake of the global crisis.
more »
Without enough money, the EU 2020 strategy risks turning into "another vague scoreboard for the Member States", the EP Budgets Committee warned on Thursday when adopting its priorities for the 2011 budget.
more »