ADVERTISEMENT

Gazprom Neft offers own assets in Kazakh MMG bid

Food

Russia's Gazprom Neft will offer Kazakhstan a stake in one of its own projects in exchange for a 49% stake in Kazakh oil firm MangistauMunaiGas (MMG), a senior Gazprom Neft official said.

Kazakh state oil and gas firm KazMunaiGas is buying MMG from Indonesia's Central Asia Petroleum Ltd.

Gazprom Neft Deputy Chief Executive Boris Zilbermints said his company wanted to become KazMunaiGas' sole partner in MMG.

“We can offer a mirror scheme, with us holding 51% and KazMunaiGas having 49% in some of our Russian assets,” Zilbermints told reporters on Sunday.

He said Gazprom Neft, a subsidiary of Gazprom could offer KazMunaiGas one of its field in Western Siberia.

Gazprom Neft could also secure oil supplies to MMG's Pavlodar oil refinery in Northern Kazakhstan which is not connected to Kazakh oilfields, Zilbermints said.

He did not say how much Gazprom Neft could pay for the stake.

MMG has total oil reserves of 812 million tons and recoverable reserves of 194 million tons. (Reuters)

ADVERTISEMENT

Average age of coronavirus patients declining Analysis

Average age of coronavirus patients declining

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Budapest airport shuttle bus service expanded City

Budapest airport shuttle bus service expanded

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.