KazMunaiGas to accomplish share purchase of MANGISTAUMUNAIGAZ by autumn

/REUTERS, Astana, Raushan Nurshaeva, May 29, 2008/ - The National Kazakhstan Company KazMunaiGas (NC KMG) plans to accomplish blocks of share purchase of MANGISTAUMUNAIGAZ by autumn 2008, Sisengali Utegaliev, managing director of oil and gas production said to journalists during open day of Exploration Production KazMunaiGas (EP KMG). "According to schedule now we actively conduct negotiations. Practically there is a technical evaluation, within nearly two or three months it will be finished, the next step is value of asset" - he said. Answering the question on terms of negotiations, he said - "may be till autumn". Earlier, HC KMG announce on intention to purchase the block of shares estimated in 72% of MANGISTAUMUNAIGAZ. According to Kazakhstan Legislation, KazMunaiGas, being the state company, has a priority right for purchase of oil assets on Kazakhstan territory. The main owner of 99% block of shares of MANGISTAUMUNAIGAZ is Indonesian Central Asia Petroleum Ltd. The company, situated in Aktau (western Kazakhstan) is engaged in exploitation of oil fields, among which Zhetybai and Kalamkas are the major ones. Blocked- out ores make 812 m. of metric tons, including 194 m. tons of extracted reserves. Besides, MANGISTAUMUNAIGAZ has 58% shares of Pavlodar oil and gas plant. Analysts began to tell about selling of MANGISTAUMUNAIGAZ, when Rakhat Aliev, ex son-in-law of Nursultan Nazarbaev, being the authoritative businessman and official became outlaw and critic of the head of the country. Aliev is considered to be one of the owners of MANGISTAUMUNAIGAZ. [2008-05-29]