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Gazprom Neft offers own assets in Kazakh MMG bid

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)