KazMunaiGaz to decide on buying Conoco's Kashagan stake by March

ASTANA. December 26. KAZINFORM KazMunaiGaz National Co., the Kazakh state energy producer, will decide in two months on acquiring a stake in the Kashagan project that ConocoPhillips (COP) intends to sell to India's Oil & Natural Gas Corp.
None
None

"The company is considering this question but too little time has passed," Malik Salimgereyev, a managing director at sovereign wealth fund Samruk-Kazyna, told reporters today in Kazakhstan's capital, Astana. Samruk-Kazyna owns the national energy producer.

ConocoPhillips said last month it intends to sell its 8.4 percent of Kashagan for about $5 billion to ONGC Videsh Ltd., the overseas arm of India's biggest energy explorer. ConocoPhillips is the largest U.S. independent oil producer by market value after spinning off refining and chemical units, Kazinform has learnt from Bloomberg.

Read more 

Currently reading