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KazMunaiGas EP waiting for oil and gas assets proposals

Oil&Gas Materials 21 October 2011 18:10
KazMunaiGas Mining Exploration Production may consider any offers to purchase oil assets

Kazakhstan, Astana, Oct. 21 / corr. Trend A. Maratov /

KazMunaiGas Mining Exploration Production may consider any offers to purchase oil assets, company's spokesman Daulet Zhumadil said Trend.

"Our company can consider and examine any proposals for purchasing of new assets," Zhumadil said.

General Director of KazMunayGas Exploration Production Askar Balzhanov said at the conference in Almaty, that the company is considering possibility of purchasing oil and gas assets in the amount of $2-2.5 billion.

Zhumadil did not inform about projects which the company is considering to purchase.

"The company will use common sense, implementing new acquisitions," he added. "We will choose projects where KMG EP has competitive advantage and where our strategic partners will provide us with interesting assets," he said.

According to Zhumadil, the projects will be named after completion of the transaction.

Earlier, the Head of KMG EP Askar Balzhanov told Trend that the company has interest for increasing its resource base in neighboring Russia, Turkmenistan and Iraq.


Edited by E. Kosolapova

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