News 2015
January, 2015Kozhan
Referring to a Chinese source, Reuters News Agency reported on the possible sale of the Kazakhstan oil producing company Kozhan to Chinese Geo-Jade Petroleum Corp. for $ 400 million. Kozhan JSC owns the rights for development of Morskoye, Karatal, Dauletaly fields in Atyrau Oblast.
Currently, the cumulative production from these three fields is over 500 tons of oil per day (about 3.64 million bbl/day). The company plans to increase its oil production capacity approximately threefold, up to 1500-1800 tons per day (11-13 thousand bbl/day) by 2017-2018. The sole proprietor of Kozhan is Dutch company International Minerals Resources II B.V. (IMR). IMR, in turn, is owned by Summerside Investments s. a. r. L, registered in Luxembourg.
The ultimate beneficiaries of the last company are Alexander Mashkevich, Patokh Shodiyev and Alidzhan Ibragimov, with 33.3% shares each. These data is available at the website of the Kazakhstan Stock Exchange (KASE): in the beginning of December 2014, Kozhan JSC has had its ordinary shares included to the stock list. The probable buyer is Chinese Geo-Jade Petroleum (in August 2014, the company was remaned, previously it was Hainan Zhenghe Industrial Group Co. Ltd).