Kazakhstan wants to sell state blocks in two oil companies till the end of 2000

/IRBIS, Nov.20, 00/ - REUTERS informs, with the reference to the vice chairman of the state property and privatization committee of the Ministry of Finance, Eduard Utepov, that Kazakhstan wants to sell state blocks in two oil companies, Aktobemunaigas and Mangistaumunaigas, for at least $100 mln each till the end of 2000. It is 30% of the state block in Mangistaumunaigas JSC and 25.12% in Aktobemunaigas JSC. There are good bids on Mangistaumunaigas and it is also more ready, and it will be sold as soon as the decision will be made, he said. However, no exact names of potential buyers were given. Kazakhstan is said to have made several attempts to sell the state blocks in a number of companies during the last years, though financial crises have made their own corrections in the plans. Initially, the government was planning to sell the state blocks on the stock market, then it has decided to sell them to strategic investors, is said. The chairman of the state property and privatization committee, Maksutbek Rakhanov said that there have been no big lines for their objects. Utepov said KZT22.1 bln was entered into the corrected budget-2000 of which KZT11 bln have already been received, and the sales of Mangistaumunaigas would allow the government to meet its target income level. Mangistaumunaigas, which is in the west of the country, is said to increase oil production up to 4.15 mln tons in this year, compared with 3.0 mln tons last year. Indonesian Central Asia Petroleum owns 60% of company shares, 10% preferred shares have been distributed amount the workers and 30% is owned by the government. Aktobemunaigas, which is also in the west of the country, is said to be controlled by the Chinese national petroleum company that has 60.3% stake in the company. In this year the company has plans to increase oil production up to 2.5 mln tons from 2.3 mln tons last year.