CNPC to buy share in Kashagan for $5 billion
Edited by Rhod Mackenzie / 2013-07-01 01:47:05
CNPC is going to buy a share of 8.33% in the development of the Kashagan deposit from Kazmunai Gas for $5 billion. They are going to announce that officially in near time. Kasmunai Gas will remain participation in the project buying 8.4% from ConocoPhilips, making use of its preferential right for the purchase.
After closure of these 2 transaction, the shareholding of Kasmunai Gas in the project will be 16.88%. The shares of Exxon Mobil Corp (XOM), Royal Dutch Shell Plc (RDSA), Total SA (EP), and Eni will be 16.81%, and Inpex Corp will share 7.56%.
