Kazakhstan's oil minister said Friday that the Kazakh government wants to buy British Gas' entire stake in a project to develop a giant oil field in the Caspian Sea
Published:
26 November 2004 y., Friday
Kazakhstan's oil minister said Friday that the Kazakh government wants to buy British Gas' entire stake in a project to develop a giant oil field in the Caspian Sea.
Recently Kazakhstan reached consent of the members of an international consortium preparing to develop the Kashagan oil field to allow the national oil company KazMunaiGaz to join the project.
British Gas wants to sell its 16.67 percent stake -- worth about $1.2 billion -- and the sides are now negotiating what part could be sold to KazMunaiGaz.
The consortium has the right to buy the stake and initially opposed KazMunaiGaz's bid. British Gas earlier said it intended to sell its stake to other consortium members, which include Italian energy giant Eni, British Gas, Total SA, Royal Dutch/Shell Group, ExxonMobil Corp., ConocoPhillips and Japan's Inpex.
The Kazakh government argues it has ownership rights to Kashagan. Its bid to get a share in the field is seen as part of its effort to increase KazMunaiGaz's participation in the country's oil and gas sector, now dominated by foreign investors.
Šaltinis:
Neftegaz.ru
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
In European sustainable energy week 2010, new EU energy commissioner presents strategy to reduce Europe’s dependence on fossil fuel.
more »
The EBRD is launching a Project Complaint Mechanism, which is expected to enhance the accountability and transparency of the Bank’s operations.
more »
The EBRD is boosting the availability of local currency financing in Armenia with a synthetic loan in Armenian Drams (AMD) worth $4 million to FINCA UCO CJSC for on-lending to local micro and small enterprises (MSEs).
more »
This year is the UN year of biodiversity and it brings endangered species into the spotlight.
more »
The World Bank Board of Directors today approved a US$65 million project to support the recovery of Haiti’s critical infrastructure as well as the reestablishment of basic State functions following the devastating 7.0 magnitude earthquake on January 12, 2010.
more »
Haiti’s arduous reconstruction and recovery process jolted forward today following fresh commitments to help the Caribbean nation rebuild in the wake of its devastating January 12 earthquake.
more »
A mission from the African Department of the International Monetary Fund (IMF) visited Uganda during March 4-17, 2010, to conduct the seventh and final review under Uganda’s Policy Support Instrument (PSI) and reach understandings on a policy framework for a new three-year PSI to cover the period 2010 to 2013.
more »
The European Economic and Social Committee (EESC), as the first EU institution, rose to the challenge of providing a comprehensive vision for the future of the Common Agriculture Policy (CAP), in advance of the European Commission's papers on the matter, due to be issued later this year and in 2011.
more »
The outlook for primary energy supplies, heat, and electricity is questionable for the Eastern Europe and Central Asia region, despite Russia and Central Asia’s current role as a major energy supplier to both Eastern and Western Europe.
more »
The Executive Board of the International Monetary Fund (IMF) today approved a 36-month, SDR 513.9 million (about US$790 million) Stand-By Arrangement (SBA) for El Salvador to help the country mitigate the adverse effects of the global crisis.
more »