Kazakhstan buys ConocoPhillips stake in N block for $32 mln

ASTANA. February 4. KAZINFORM Kazakhstan has acquired a stake held by the American company ConocoPhillips in the N offshore oil block for USD 32 million, Kazakh Oil and Gas Minister Sauat Mynbayev told a briefing in the Central Communications Service on Monday.

The Minister also noted that the issue on acquisition of the ConocoPhillips stake in the Kashagan field will be discussed at the government level.

"Kazakhstan has not bought the stake of ConocoPhillips in Kashagan, yet. The interdepartmental committee continues its work. We have time to make a decision, if it comes to the price at which the Indian national company was going to acquire [the stake], this is USD 5 billion," concluded the Minister.

Currently reading