KazMunaiGas Exploration Production interested in acquiring assets in Azerbaijan

Oil&Gas Materials 30 May 2011 11:27 (UTC +04:00)

Kazakhstan, Astana, May 30/Trend, A.Maratov/

KazMunaiGas Exploration Production JSC has plans to buy assets in Azerbaijan, the managing director of business development at the company Dustan Abdulgafarov said in an interview with Trend.

"In terms of company's growth strategy abroad, we are interested in all countries in the Caspian region, exactly Russia, Turkmenistan and Azerbaijan," said Abdulgafarov.

However, he did not clarify what assets in Azerbaijan. "It is a little bit early to speak on our plans with respect to Azerbaijan," he added.Abdulgafarov affirmatively answered the question of whether the company has financial resources for new acquisitions, taking into account the global financial crisis.

"The global financial crisis has definitely made its corrections to the company's plans, but we have the resources, as well as technical and human capabilities to implement our growth strategy, and we are going to work in this regard," said the managing director.

He said KMG has sufficient funds for new acquisitions.