energy

KazMunaiGas acquisitions total $3.7 billion in 2009

By SRI ⋅ January 27, 2010 ⋅  Email This Post ⋅  Print This Post ⋅ Post a comment

(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.

Tags: KazMunaiGas, M&A

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