Stake in N block cost KazMunaiGas $32 million

The stake in N block cost KazMunaiGas $32 million, Tengrinews.kz reports citing Kazakhstan Oil and Gas Minister Sauat Mynbayev as saying at the briefing in Kazakhstan President’s Central Communications Service.“As far as I remember, block N cost $32 million,” he told the journalists.This January KazMunaiGas purchased a 100-percent stake in N Block B.V.As for Kazakhstan’s procurement of the ConocoPhillips’ stake in Kashagan, Mynbayev said that “Kazakhstan has not bought the stake of ConocoPhillips yet, the inter-authority commission is still working on it. We still have some time for decision-making. The price offered by Indian national company was $5 billion,” Sauat Mynbayev said.Earlier KazMunaiGas stated that it didn’t mind ONGC Videsh purchasing the ConocoPhillips’ 8.4% stake in the giant Kashagan oilfield.