/KASE, February 8, 13, re-sent as the company supplemented the press
release/ - National Company KazMunaiGas (Astana), bonds of which are
officially listed on Kazakhstan Stock Exchange (KASE), provided to KASE
the following press release of February 7, 2013:
quotation
On January 25, 2013, between National Company KazMunaiGas (KMG) and
and ConocoPhillips Petroleum Holdings B.V. (COF) was competed the deal
on acquisition of 100% shares of N Block BV Company.
As a result of this deal KMG becomes the owner of 75.5% of subsoil use
rights in the N Project and 75.5% stake in LLP N Operating Company.
According to the signed contract for subsoil use rights in the N Project
the Project participants are KMG - 75.5% and Oil & Gas N Block Kazakhstan
Gmbh - 24.5%.
The increase of KMG stake in the N Project demonstrates steps towards
strengthening of the National Company in marine geological exploration
projects in Kazakhstan sector of Caspian Sea.
The acquisition of 100% shares of N Block BV Company is the successful
and commercially profitable deal for KMG.
The cost of deal made up significantly low price than historical costs
incurred by ConocoPhillips under the project and asset valuation.
ends
The press release full version is available on KASE website at:
-
http://www.kase.kz/files/emitters/KMGZ/kmgz_reliz_070213_k.pdf - in Kazakh;
-
http://www.kase.kz/files/emitters/KMGZ/kmgz_reliz_070213.pdf - in Russian.
[2013-02-08]