The government of Kazakhstan passed 25% SBS of Aktobemunaigas OJSC to Access industries

/IRBIS, Dec.21, 00/ - Khabar informs that the government of Kazakhstan made a decision to pass state block of shares in Aktobemunaigas OJSC to the American Access industries. It is 25% of the company's authorized capital, and remaining 75% are possessed by the Chinese national petroleum company. The government's resolution reads that the state block was passed under the trust management without repurchasing right for five years. It is not a blocking stake, and will not allow the holder to make strategic decisions on the oil company's activities. The Access industries, led by Leonard Blavatnikov, is said to have annual turnover of $4 bln. It has been working in Kazakhstan since 1997 and owns the world's biggest coal pits "Bogatyr" and "Severnyi" in Pavlodar region. The company was involved into a long dispute with the authorities of Pavlodar region on the rent for "Bogatyr" coal pit. The press-release reads that the deal is meant to increase the investments into oil industry and as a result to increase the market value of the Aktobemunaigas OJSC state block of shares. The Access industries is said to be a joint owner of Tumen oil company in Russia with 36 mln ton annual production. The Chinese oilmen complained several times that they did not have access to export Aktobe oil abroad, which was the cause of production decrease and layoff attempts. It is intended that the Access industries should provide oil exports to abroad through Russia on substitution scheme. However, there is no information on the financial aspects of the deal between the government and the American investor. The State property committee is keeping silence in this regard, is said. The resolution was adopted on December 14 and was not meant to be published in mass media. There are no clarifications in the press-release. It is estimated that the government adopts about 2,000 resolutions annually. Most of them are not published though they concern the citizens, their interests and legal rights and it is possible that enormous number of Aktobemunaigas workers will find out about it only today, is said.