CEFC China Energy Company Ltd agreed to purchase 51% share in the Romanian subdivision of the Kazakhstan’s national company “KazMunayGas” - KazMunayGas International N.V., The Economic Times reports. As stated in the article, the agreement became a part of the package of agreements with a total value of 4$ billion, which was signed in Beijing by Kazakhstan and China in regard to the field of oil and gas, telecommunications and atomic energy.
KazMunayGas-Refining and Marketing (KMG RM) can exchange the shares with the potential investors within the frameworks of selling 3 refineries, informs Umirzak Shukeev, Chairman of the Board Samruk-Kazyna.
In December 2016 it is planned to resume the commercial oil production at Kashagan field in Kazakhstan's sector of the Caspian offshore,- said the Minister of National Economy Yerbolat Dossayev during the Government meeting, TASS reported. "If we talk about the main industries, next year we will continue implementation of the major projects in the oil and gas sector.
Managing director of North Caspian Operating Company (NCOC) Stephane de Mahieu is stepping down from position, as reported by a source involved in the oil and gas sector. “Stephan de Mahieu is leaving the company, which he was in charge of since May 2014.
Second extension of the main gas pipeline “Beineu-Bozoy-Shymkent” is put into operation, JSC “KazTransGas” press-center reports. Official ceremony was held due to placing in operation of the main gas pipeline “Beineu-Bozoy-Shymkent” (BBS) on the Beineu-Bozoy section, - as mentioned in the report. Gas pipeline stretches throughout the territory of Mangistau, Aktobe, Kyzylorda and South Kazakhstan regions.
Most companies from the KazMunayGas Group will be privatized, reports KazTAG, referring to Mr.Umirzak Shukeyev, Chairman of Board, the State Welfare Fund "Samruk-Kazyna". "Now we announce new, even more ambitious privatization program of the major assets. For example, KMG decided to keep only 75 from 206 companies,"- he said on November 18 at the expanded meeting of the Government.
KazTransOil JSC and KazTransGas JSC shall be mergered, believes the Chairman of the Board of Samruk-Kazyna JSC Umirzak Shukeyev, reports KazTAG. "After optimization" of KazTransOil, only the pipeline transport activities shall remain. Kazmortransflot and Batumi terminal will go for privatization.
By the decree of the Government of Kazakhstan as of November 2, 2015, №877, the oil fields of Tandai Petroleum company are included into the list of low-profit, high-viscosity, high water content, low production and depleted fields.
Kazakhstan considers a possibility to hand over the part of shares in Eurasian Resources Group (ERG), Luxembourg and ten other companies, informs Reuters in the beginning of November, referring to couple of sources, which are close to the government.
Kazakhstan’s government is considering levying a penalty on a venture led by BG Group Plc and Eni SpA that operates the nation’s second-biggest producing oil and gas field as the state seeks extra revenue to bolster its finances, according to two people familiar with the plan. The fine on the Karachaganak project could be as much as $2 billion, one of the people said.
Standard & Poor's rating agency excluded Kashagan project from the factors, taken into account for Kazakhstan’s GDP forecasts, said Karen Vartapetov, Deputy Director of Public Finances Group of S&P. "We are no more optimistic about this project, because it was delayed several times.
Atyrau. October 14. KazTAG –Ex-Prime Minister of Kazakhstan Nurlan Balgimbayev passed away at the age of 68 years in Atyrau, informs his family. "Today he (Nurlan Balgimbayev - KazTAGГ) died", - said his relatives on Wednesday.
The competent source of KazTAG agency in Astana informs that it was requested to hand over the largest oil pipeline company in Kazakhstan- KazTransOil JSC to the gas transport organization. "This proposal is being actively promoted by Kazakh gas transport officers, ostensibly, as a part of transformation and optimization of operating costs. The letter with such a request was already received by Sauat Mynbaev, CEO of NC KazMunayGas JSC.
Final Investment Decision (FID) and the Future Expansion Project of Tengizchevroil (TCO) will be accepted in January and the works will start in May 2016, as informs Sauat Mynbaev, CEO of KazMunayGas JSC. "As you know, regarding TCO, we determined the FEP costs, which is the Future Expansion, for 38 billion dollars, afterwards, it was decided that in current conditions it is required to ensure the negotiations with all the contractors to reduce the costs for this project.
"KMG E&P informs that the Company's Board of Directors approved the resignation of Mr.Abat Nurseitov, General Director (Chairman of Board) and Member of the Board of Directors in connection to his transfer to another job", - stipulates the message, distributed on Tuesday.
Kazakhstan Government will cease directive regulation of oil export duty as declared prime- minister Karim Masimov. “In September the decision will be made to tie export duty to the oil prices.