Prime Minister to accelerate redemption of MANGISTAUMUNAIGAZ`s JSC block of shares in government property

/INTERFAX-KAZAKHSTAN, Astana, June 02, 08/ - Prime Minister of Kazakhstan Karim Masimov gave directions to accelerate redemption of MANGISTAUMUNAIGAZ`s JSC majority interest in government property. "I gave directions on shares redemption of MANGISTAUMUNAIGAZ, fulfillment of which insupportably delayed. I put another objective - in short term prospect to purchase not less than 51% of company's shares", - he said on the selective government meeting in Astana on Monday, addressing to the heads of Ministry of Energy, state holding Samruk and national oil and gas company KazMunaiGas. According to Prime Minister, Pavlodar oil processing plant should also be passed into government property. "It is necessary to prevent its expanding with further producing of aviation kerosene and high-grade petrol for covering needs of Astana and needs of country's aircraft industry" - Prime Minister said. "We should spend assets and recourses and decide this question, which insupportably delayed" - K.Masimov concluded, adding that directors of mentioned companies should report him on situation with this deal during the week. Last week managing director on oil and gas production of KazMunaiGas Sisengali Utegaliev informed that the national company plans to finish the deal on purchasing of MANGISTAUMUNAIGAZ`s shares before this autumn. "Negotiations are conducted according to schedule. There is technical evaluation in progress, which will be finished in the nearest future - in 2-3 months. After that, there will be question on assets value. (...) We hope to finish this deal till autumn" - he said. Earlier informed that KazMunaiGas plans to purchase more than 70% of MANGISTAUMUNAIGAZ. December 2007 KazMunaiGas and Central Asia Petroleum Ltd (the main shareholder of MANGISTAUMUNAIGAZ) signed protocol on intention to purchase oil and gas assets of MANGISTAUMUNAIGAZ. "MANGISTAUMUNAIGAZ is one of the major oil production companies in Kazakhstan. It was founded in 1995. Since June 1996 the company was given license of Kazakhstan government for 25 years of hydrocarbon raw product producing on gas and oilfields of Asar, Burmasha, Kalamkas, East Zhetybai, on oilfields of Alatobe and North Karagie, on oil-gas condensate field of Zhetybai, on oil gas field of Oymasha; in November 1996 it was given the license for oil production on oil-gas condensate field of South Zhetybai. [2008-06-02]