KazMunaiGaz and Central Asia Petroleum signed an agreement on acquisition of 50 % + 2 voting shares of MANGISTAUMUNAIGAZ by the National Company

/INTERFAX-KAZAKHSTAN, Astana, January 12, 09/ - The national oil and gas company KazMunaiGaz and Central Asia Petroleum Ltd signed an agreement on acquisition of 50 %+2 voting shares of MANGISTAUMUNAIGAZ by the national company. According to KazMunaiGaz message, disseminated on Monday, deal closing is planned before the end of March 2009, after corresponding approvals of Kazakhstan State Agency on competitiveness protection, European Committee and fulfillment of early reached agreements. Acquisition of MANGISTAUMUNAIGAZ is planned at the expense of own funds of KazMunaiGaz group of companies. As known, in December 2007 KazMunaiGaz and Central Asia Petroleum Ltd. signed the protocol on intentions to acquire oil and gas assets of MANGISTAUMUNAIGAZ. KazMunaiGaz - is Kazakhstan national operator on exploration, production, processing and transporting of hydrocarbons, which represents the interests of Government in oil and gas field. National Welfare Fund Samruk-Kazyna JSC owns company's 100 % shares. Central Asia Petroleum Ltd - is the company, registered on Britain Virgin Islands and the owner of 100 % voting shares of MANGISTAUMUNAIGAZ. MANGISTAUMUNAIGAZ JSC is one of the largest oil producing companies in Kazakhstan. The company possesses 36 oil and gas deposits, 15 of which are in development stage. Kalamkas and Zhetybai are the largest deposits of the company. June 1996 the company was granted the license of Kazakhstan government for 25 years of hydrocarbon raw production on oil and gas deposits: Asar, Burmasha, Kalamkas, Zhetybai Vostochniy, on oil deposits of Alatobe and Karagie Severnoe, on oil and gas condensate deposit Zhetybai, on oil and gas deposit Oymasha and in November 1996 it was granted the license for oil production on oil and gas condensate deposit Zhetybai Yuzhniy. MANGISTAUMUNAIGAZ JSC also owns 58 % shares of Pavlodar petrochemical plant (PPCP). [2009-01-13]