Kazakhstan’s KazMunayGaz Says Aims for Oct-Nov IPO
Kazakh state oil and gas firm KazMunayGaz plans to float its shares in October or November this year, deputy chief executive Zhakyp Marabayev said on Tuesday. Marabayev, speaking at a meeting at the energy ministry, provided no other details. Kazakhstan has said it would sell a stake of up to …
Kazakh Energy Minister Says New Tengiz Expansion Cost too High
NUR-SULTAN (Reuters) – Kazakhstan believes an increased cost estimate for the Tengiz oilfield expansion is too high and wants oil majors Chevron (CVX.N) and ExxonMobil (XOM.N) to review it, Energy Minister Kanat Bozumbayev said on Wednesday. Chevron, which leads the consortium developing one of the Central Asian nation’s biggest oilfields, …
LUKOIL and KazMunayGas Sign Agreement on Joint Studies
President of PJSC LUKOIL Vagit Alekperov and Chairman of the Management Board of KazMunayGas Alik Aidarbayev have signed today in Almaty (Kazakhstan) an Agreement on Joint Studies. The two companies agreed on major terms of cooperation and expressed their willingness to begin studies on mineral resources in order to evaluate …
Oil Output at Kazakhstan’s Kashagan Hits Record of 400,000 bpd
Oil output at Kazakhstan’s Kashagan field reached an all-time high of 400,000 barrels per day (bpd) on Tuesday, three sources familiar with daily production data told Reuters. Oil production on Kashagan might rise further to 410,000 bpd in coming months, two industry sources familiar with the development plan said. Output …
Fire Breaks out at Kazakhstan’s Kalamkas Oilfield
A fire has broken out at the onshore Kalamkas oilfield in Kazakhstan’s western Mangistau province, the country’s emergencies committee said on Monday. MangistauMunaiGas (MMG), the company which operates the field and is owned by Kazakh state energy firm KazMunayGaz and China’s CNPC, could not be reached for comment. KazMunayGaz said …
Karachaganak: Expansion Costs Halved
The estimated cost of a project to boost output at the Karachaganak gas condensate field in Kazakhstan has been halved from last year’s $9 billion, a senior Kazakh energy official said on Friday. The cost may be reduced even further, said Murat Zhurebekov, chief executive of PSA LLC, a unit …
Tengizchevroil: Looking For $37bn of Finance for Planed Tengiz Extension
Tengizchevroil, a Chevron-led joint venture and Kazakhstan’s No.1 oil producer, may take out loans and issue bonds to finance its $37 billion plan to expand production, an official at state oil firm KazMunayGaz said on Thursday. KazMunayGaz also holds a stake in Tengizchevroil. “There are different scenarios, but we think …