Kazakh Zhaikmunai to acquire new oil and gas fields
Azerbaijan, Baku, Aug. 21 / Trend E. Kosolapova/
Zhaikmunai LP (ZKM), the oil and gas exploration and production enterprise with assets in north-western Kazakhstan signed asset purchase agreements to acquire 100 percent of the subsoil use rights related to three new oil and gas fields in Kazakhstan, the company reported.
"Zhaikmunai has agreed to pay the current owners a total of $16 million for the three fields," the company said.
The fields, Rostoshinskoye, Darjinskoye and Yujno-Gremyachenskoe, are located in the Pre-Caspian basin to the northwest of Uralsk, approximately 90 kilometres from the Chinarovskoye field. The size of the three license areas combined is 139 square kilometres. The company is currently analyzing the optimal appraisal and development programme for the fields and will hold a capital markets day in due course to present the results.
Completion of the acquisitions, which is expected to occur later this year, is subject to the approval of the relevant authorities in Kazakhstan, including the Ministry of Oil and Gas and the Anti-Monopoly Agency.
Zhaikmunai is an independent oil and gas enterprise currently engaging in the exploration and development and production of oil and gas. It is listed on the London Stock Exchange (Ticker symbol: ZKM). Its principal producing asset is the Chinarevskoye Field located in north-western Kazakhstan.