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 European Commission approved an application from Spain for assistance from the EU Globalisation Adjustment Fund (EGF).
more »
The European Commission today reiterated the potential of existing EU-rules on mediation in cross-border legal disputes, reminding Member States that these measures can only be effective if put in place by Member States at national level.
more »
Exports of animals and animal products from the European Union to Russia are expected to receive a boost after five new certificates for exports between the EU and the Russian Federation entered into force on August 15.
more »
World Bank Group President Robert B. Zoellick visited Moldova on August 11-12 at the invitation of Prime Minister Vlad Filat.
more »
These are the financial results of the banking activities of the Danske Bank Group in Lithuania (Danske Bankas and Danske Lizingas UAB).
more »
The European Investment Bank (EIB) today signed its first loan agreement with Armenia.
more »
Given the worsening food crisis in the Sahel, the Commission today agreed to disburse €14.9 million for food security in Niger, the worst affected country in the area.
more »
The European Commission has cleared under the EU Merger Regulation the proposed restructuring of Arnotts' debts in return for a transfer of control to Anglo Irish Bank and Royal Bank of Scotland (RBS).
more »
The European Commission today approved a new financial support package of €135 million for Morocco.
more »
The European Commission is allocating an extra €10 million in humanitarian aid for Liberia.
more »