KMG intends to expand resource base twice
Azerbaijan, Baku, May 26 / Trend S. Suleymanov /
The production subsidiary of national KazMunaiGas - JSC Exploration Production KazMunaiGas (KMG) plans to increase its resource base twice, KMG managing director of business development Dastan Abdulgafarov said at an oil conference in Astana.
"According to the development plan on the exploration assets, KMG in the medium term is planning to increase the resource base twice, including through acquisitions," Abdulgafarov said.
He said that it deals with purchase of new assets, not only in Kazakhstan but also outside it.
"There are plans to purchase assets in the former Soviet republics - Turkmenistan and Russia, in foreign countries - Iraq, Vietnam and Egypt in the medium term," the managing director said.