News and analysis from Kazakhstan - Mar 18th 2010
energy
KazMunaiGas acquisitions total $3.7 billion in 2009
(SRI) - KazMunaiGas (KMG), the Kazakh national oil and gas company, has acquired assets totaling $3.7 billion in 2009, the company’s CEO Kairgeldy Kabyldin said on Tuesday.
KMG’s acquisitions included a 50-percent stake in MangistauMunaiGas, a Kazakhstan-focused oil company; a controlling stake in the Pavlodar Oil Refinery; and a stake in Romanian Rompetrol Group which had given Kazakhstan full control of the company.
KMG has also completed several infrastructure projects in 2009, including the final leg of the Kazakhstan-China oil pipeline and the first strand of the Kazakhstan-China gas pipeline.
“During the crisis we maintained our production potential and increased assets for the future acceleration of development,” Kabyldin said.
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