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China’s companies haven’t turned to Kazakhstan with offers to buy into Abay and Nursultan oil blocks

29 april 2013, 17:06
0
Chinese oilmen. © Yaroslav Radlovsky
Chinese oilmen. © Yaroslav Radlovsky
Chinese companies haven’t turned to Kazakhstan with offers to purchase into Abay and Nursultan oil blocks, KazTag reports, citing KazMunaiGas National Oil Company’s Chairman of the Board Lyazzat Kiinov as saying April 29.

“It is the country’s Ministry of Oil and Gas that is searching for new partners for these oil blocks (…) I haven’t heard anything about China’s interest. The Chinese haven’t contacted us over such offers”, he told a briefing when asked what he thought on China’s desire to participate in the two oil blocks.

Norway’s Statoil had earlier exited Abay oil block. Back then the country’s Minister of Oil and Gas Sauat Mynbayev reported that Kazakhstan was searching for a new partner.

As KazTAG earlier reported, Chinese state and private companies are nearing the finish line in procurement of stakes in Kashagan project, Nursultan and Abai blocks, according to an informed source in Beijing.

“The talks have lasted for almost a year and in case of Kashagan our (Chinese) companies have had it the their plans for 10 years. Preliminary agreements have already been made,” the source said. According to him, “Indian ONGC (probable candidate for procurement of ConocoPhillips’ stake in Kashagan project) has a chance only in case it lobbies the deal through a major mediator, such as the United States or Russia”.

In autumn 2012 Kazakhstan Oil and Gas Ministry refused to confirm that there was chance of selling a stake in Kashagan project to Chinese companies. Nevertheless, KazTAG’s source in China leaked back than that according to the current 5-year strategic plan (2011-2015), Chinese companies have a task to significantly increase their share in Kazakhstan's oil production sector and bring it to 40 percent.

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