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 …
Max Petroleum: Successful Well Drilled in the Borkyldakty Field
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, is pleased to announce that it has finished drilling the BOR-4 development well in the Borkyldakty Field, reaching total vertical depth of 1,609 metres. The well successfully encountered approximately 31 metres of net oil pay across …
Max Petroleum: 2013 Annual Report and Accounts and Notice of AGM
Max Petroleum, an oil and gas exploration and production company focused on Kazakhstan, today announces the publication of its annual report and accounts for the year ended 31 March 2013. The Company also announces that its Annual General Meeting will be held at 11:00 am on Wednesday 25 September 2013, …
Max Petroleum Plc: Spudding of ZMA-A21
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, is pleased to announce that it has commenced drilling the ZMA-A21 development well in the Zhana Makat Field on Block E using the Zhanros ZJ-30 rig. Total vertical depth of the well will be approximately 860 …
International Petroleum: Extends Alakol Project by 2 Years
International Petroleum Limited, advises its shareholders that , along with its 50% partner, it has signed a contract to extend its rights to explore for hydrocarbons in an area covering 24,649 km² in eastern Kazakhstan ( Alakol Project ) by two years from 28 May 2013 to 28 May 2015 …