Government of Kazakhstan prepares resolution on consolidating assets of NC KazMunaiGas CJSC

/IRBIS, Feb 25, 02/ - As it is informed in the press-release of KazTransOil CJSC (Astana) on Friday, the draft resolution is being prepared by the government of Kazakhstan regarding the consolidation of the assets of the National Company KazMunaiGas CJSC (NC KazMunaiGas CJSC). The resolution is being prepared based on the decree #811 of the president of Kazakhstan, dated Feb 20, 02, "On measures for further keeping interests of the state in oil and gas sector of the country's economy" which became the basis for the merger of NOC KAZAKHOIL CJSC and NC Transport of Oil and Gas CJSC into NC KazMunaiGas CJSC. NC Transport of Oil and Gas CJSC (TOG) was established in March 2001 by giving state block of KazTransOil CJSC, KazTransGas CJSC, KazTransCom CJSC, KazMorTransFlot CJSC, International Airport Atyrau OJSC and other entities to the authorized capital of the company. KazTransOil CJSC informs that when independent joint stock companies are reorganized through the merger, usually their legal statuses do not change, which applies to KazTransOil and KazTransGas that were part of TOG until recently. The merger of big companies is a global trend among oil companies in the world, and the examples are EXXON-Mobil and Chevron-Texaco, is said.