/IRBIS, February 7, 03/ - Today in the official web-site of the newspaper
"Kazakhstanskaya pravda" (www.kazpravda.kz) there was published the following
material of Irina Nos (
http://www.kazpravda.kz/e.html#e2).
- beginning of quotation -
/February 7, 2003/
Long-term collaboration
The company "Shell Kazakhstan Development B. V." has purchased assets
of the company "Kerr-McGee" for 165 million dollars. About it yesterday at
the press-conference in Astana was stated by the president of the group of
companies "Shell" in Kazakhstan Martin Ferstl.
The new purchasing gives an opportunity for "Shell" to increase market share in
the project CPC, and also consolidates its rights for the field "Arman" and the
license for exploring the area "Dead Kultuk". Market share - 7.5% - in the
project of CPC is already belongs to "Shell" in its joint venture with the
company "Rosneft", that gives the right for production of 60 th. barrels a day
(with growth of up to 100 th. in accordance with the pipeline's extension). The
last deal corresponds to increase of the market share by 1.75%. It corresponds
to capacity equaling to 55 th. barrels a day and gives an opportunity to
increase export volume up to 110 th. barrels.
As Ferstl said, the agreement consisted of 50% market share in joint venture,
another owner of which is NZ KazMunaiGas CJSC. The JV consists of assets of
the field "Arman", which is situated in Mangistau oblast. Now about 5 th.
barrels a of oil day are produced here. The company "Shell" has also purchased
100% rights for the field "Dead Kultuk", which is on the north-east coast of
the north part of Caspian sea.
Receiving the assets "Shell" assumes operating responsibility for both blocks
and intends to develop long-term collaboration in oil and gas sector of our
country.
- Getting down to the project, we would like to actively participate in the
region's life, - noted Martin Ferstl. - The staff of local collaborators, who
work at the field "Arman", will be preserved. Besides, we strive for creating
of portfolio of additional exploration projects.
Martin Ferstl also noted that in addition to purchasing of the assets of "Kerr-
McGee" the company "Shell" possesses 16.7% in North-Caspian PSA, where the
field "Kashagan" is. Group of companies "Shell" is widely known as a supplier
of lubricating material for automobile, mining and oil producing sectors.
- end of the quotation -
According to the Terms of the 1st issue of inscribed coupon bonds (with
securing) of Open joint-stock company "SHAKHARMUNAIGAS" (Terms), the
issue of which was registered by the National securities commission of
Kazakhstan on December 8 of 2000 (KZ75KASICA50; KASE's official "А" listing
category, SMGZb1; $100; $30 m; January 18, 01 - January 18, 06; annual
coupon 13.0% APR), means of securing of these bonds issue are property rights
of SHAKHARMUNAIGAS OJSC for oil field Kultuk or as it was called before -
Dead Kultuk. In this case the point is the rights of SHAKHARMUNAIGAS OJSC
for depth usage for exploration and production of hydrocarbon raw stuff at the
mentioned field, which is situated only within blocks XXXI-14C (partially) and
XXXI-15-A (partially) in Beineuskiy region of Mangistau oblast. Property right
for Kultuk field within the limits of the mentioned blocks has been estimated
by SRC of Kazakhstan at USD108,850,000 (number of the conclusion 17-Р-588 dated
August 4, 00). This property right, according to the documents, which
Kazakhstan stock exchange (KASE) possesses, was given by Munaigas OJSC to its
daughter company - SHAKHARMUNAIGAS OJSC.
IRBIS agency pays attention on the fact that it is not informed in the message
of Irina Nos who has sold "100% rights for the field Dead Kultuk", and also -
exact blocking of the field's areas, which the conducted deal concern.
[2003-02-07]