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Tuesday, 07 October, 2008, 15:00 GMT | more prices >>

Gazprom eyes Kazakh oil player


News wires

Gazprom Neft , the oil unit of Russian gas monopoly Gazprom, wants to buy into Kazakh oil company MangistauMunaiGas (MMG) together with the Kazakh state oil company, a Gazprom Neft official said today.

"We are in talks with MMG. We are very willing to get into the country," Gazprom Neft deputy general director Boris Zilbermints said on the sidelines of a conference to Reuters.

"Kazmunai is definitely going to buy 51% of MMG and we would be glad if we could get the other 49%."

It remained unclear whether Kazmunaigas itself or its London-listed exploration and production subsidiary was the likely buyer of the majority stake in MangistauMunaiGas, currently owned by an Indonesia based company.

MangistauMunaiGas has residual reserves of 812 million tonnes, including 194 million tonnes of extractable reserves.


Thursday, 03 July, 2008, 12:35 GMT  | last updated: Thursday, 03 July, 2008, 12:41 GMT

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