Geologic exploration on ?N? oil block to be financed by foreign consortium - Mynbayev
08:58, 12 June 2009
ASTANA. June 12. KAZINFORM /Aigul Tulekbayeva/ ?Geologic exploration is financed by a consortium, though operating company on the project management is joint?, Kazakh Minister of Energy and Mineral Resources Sauat Mynbayev said a t a press conference; Kazinform reports.
KazMunaGaz National Company JSC (Kazakhstan), Conoco Philips (USA) and Mubadala Development Company JSC (UAE) signed the Agreement on joint activity and development of ?N? oil block.
?KazMunaiGaz will possess 51% of shares, and the two companies - in proportion to 24.5 % of shares?, the Minister said.