ConocoPhillips completed the deal with KMG
Edited by Rhod Mackenzie / 2013-11-01 06:25:02
The American ConocoPhillips has completed the deal with the oil company “KazMunaiGaz” (KMG) on the sale of 8.4% share in the Kashagan project in Kazakhstani sector of the Caspian Sea shelf, OilCapital.ru reports citing the press-release of the company.
In early July the Ministry of Oil and Gas of Kazakhstan sent notification to ConocoPhillips on the intention of the government to use its priority rights for the acquisition of the participation share in the North-Caspian project. KMG is going to be the purchaser of a share of ConocoPhillips in the company on behalf of the state.
