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
The Gas Coordination Group, chaired by the Commission, met this afternoon to analyze in detail all elements of the preparedness of the EU and the Energy Community for a potential supply disruption in the Winter 2009/2010.
more »
In a meeting of the European Bank Coordination Initiative Group, held in Brussels, the parent banks of the nine largest banks operating in Romania reaffirmed their commitment to maintain their exposure to the country and ensure adequate capital levels over 10 percent for their affiliates.
more »
Airline airBaltic has informed of its plans to resume some flights from Vilnius International Airport before the end of this year.
more »
The European Commission has approved under EC Treaty state aid rules the restructuring plan of Lloyds Banking Group.
more »
"Finance and climate change" was under discussion at a 10 November hearing in parliament's Industry, Research and Energy Committee.
more »
The International Monetary Fund announced today the sale of 2 metric tons of gold to the Bank of Mauritius, the nation’s central bank.
more »
The euro area economy grew by 0.4% in the third quarter. Is the crisis over?
more »
After lots were drawn, ten winners of Danske Bankas scholarships and one winner of an iPod shuffle player were established.
more »
From 16 November 2009, AB Bank SNORAS network starts providing new products – one can sign agreements of “Finasta Asset Management” II level pension accumulation funds in all subdivisions of the bank.
more »
The expected turnaround in the Baltic Rim economies is likely to gradually improve the business opportunities for Nordic companies operating in the region.
more »