British gas and oil producer BG has signed an agreement with Kazakhstan’s state oil company KazMunaiGas to co-operate on oil and gas exploration as BG seeks to grow in Kazakhstan and KMG seeks to expand overseas.
The companies said in a statement on Friday that under the agreement, which was signed in the presence of Kazakh Prime Minister Karim Massimov, the companies would investigate opportunities in Kazakhstan and other countries. “The upstream co-operation agreement, announced Friday, will play an important role in accelerating our strategy for international growth,” KMG President Kairgeldy Kabyldin said in a statement. The agreement is between BG, KMG and KazMunaiGas Exploration Production, which is majority owned by KMG. (Reuters)