National company KazMunayGaz chooses international trader to organize advance oil delivery
02.12.15 12:36
/KASE, December 2, 15/ – National company "KazMunayGaz" JSC (Astana), whose
securities are officially listed on Kazakhstan Stock Exchange (KASE), has
provided KASE with the following information statement:
quote
National company "KazMunayGaz" JSC (hereinafter – KMG) initiated a tender to
obtain offers from relevant international traders regarding organization of
advancing of oil falling on 20% shares of KMG in Tengizshevroil LLP (TSHO),
including an advance payment of USD3,000,000,000.
In September this year a decision was taken that subsidiary of KazMunayGaz
KazMunayGas Trading AG (KMGT), will represent KMG in this regard and will
implement relevant measures to choose an international trader (drawing up the
tender procedure, selection of participants, forming of evaluation criteria,
organization of the tender commission meeting).
On November 30, 2015 the tender commission (consisting of representatives of
Sovereign wealth fund "Samruk-Kazyna", KMG and KMGT) chose the winner –
VITOL S.A.
This project is of great importance to KMG, which in association with KMGT,
VITOL S.A. and TSHO will soon start working on drawing up the relevant
documentation on the deal. The first advance tranche is supposed to be received
within 2–4 months.
unquote
[2015-12-02]