Gazprom Considering Extension of Gas Supplies From Kazakhstan
Astana hosted today a working meeting between Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Uzakbai Karabalin, Minister of Oil and Gas of the Republic of Kazakhstan. The parties discussed further cooperation in the gas sector and, in particular, the extension of the long-term agreement till 2038 – on purchase and sale of gas produced from the Karachaganakskoye gas and …
Roxi Petroleum: License Extension at Galaz and Could be Converted to a Full Production License in the Future
Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to update the market with news of a licence extension and of operational progress at its Galaz asset. Galaz The Galaz block is located in the Kyzylorda Oblast in central Kazakhstan. The Contract Area was extended on …
The Government of Kazakhstan reduces mineral extraction tax rate for Karazhanbasmunai
JSC КаzМunaiGas Exploration Production (“КМG EP” or the “Company”) is pleased to announce that the Kazakh Government has included the Karazhanbas oil and gas field (in the Tupkaragan District, Mangystau Province) in the list of marginal, hydrocarbon, high-viscosity, water-flooded and depleted fields. It has been included in this category retrospectively, …
Tethys Petroleum Limited: Third Successful Gas Well in Kazakhstan
Tethys Petroleum Limited CA:TPL -1.96% UK:TPL +6.48% , the oil and gas exploration and production company focused on Central Asia and the Caspian Region, is pleased to announce the success of Well AKK19, the third shallow gas exploration well of its 2014 programme. Analysis of data from the well indicates it has a pay …
LUKOIL Optimizes Hydrocarbon Asset Portfolio in Kazakhstan
Vagit Alekperov, OAO LUKOIL President, signed a purchase and sale agreement today that allows the company to sell its 50-percent stake in the Caspian Investment Resources Ltd to China’s Sinopec. The total price of the shares for sale will be around USD 1.2 billion and will be subject to a number …
Condor Petroleum: Completes US$88m Marsel Sale
Condor Petroleum Inc. is pleased to announce that the sale of Condor’s 66% interest in the Marsel Territory for US$88.0 million (“Marsel Transaction”) was completed on January 28, 2014. After registering the Marsel Transaction with certain regulatory authorities in Kazakhstan, US$83.0 million (CA$91.3 million) held in escrow was released and …
Tethys Petroleum: Strikes New Prospect with Total Unrisked Mean Recoverable Oil Resources Being Independently Estimated at Over 400 million barrels
Tethys Petroleum is pleased to announce it has received an updated Oil Resource Report for a new prospect in Kazakhstan with total Unrisked Mean Recoverable Oil Resources being estimated independently at over 400 million barrels. The report was commissioned on the “Klymene” prospect which is located in the Kul-Bas Exploration …
Rosneft Agrees Principal Terms to Ship Crude Oil via Kazakhstan
Rosneft President and Chairman of the Management Board Igor Sechin took part in the 10th Forum for Interregional Cooperation between the Russian Federation and Kazakhstan, which was held on November 11, 2013 in Yekaterinburg involving Presidents of the Russian Federation and Kazakhstan Vladimir Putin and Nursultan Nazarbayev. As part of …
Max Petroleum: Final Conversion of Convertible Bonds
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, is pleased to announce that it has received written regulatory approval from the Ministry of Oil and Gas of the Republic of Kazakhstan permitting the conversion of the Company’s outstanding 10% notes, comprising US$28.6 million in …
RPI Reports: Kazakhstan – Upstream Market Focus
The oil and gas industry of Kazakhstan has shown an unprecedented pace of growth over the last 10 years. Thus, in 2001-2012 oil production nearly doubled (from 39.3 to 79.2 million tons), while gas production increased by nearly 3.5-fold (from 11.6 to 40.1 bcm). By 2020 the country’s oil production …