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Stake in N block cost KazMunaiGas $32 million

February 5 2013, 10:44

Photo courtesy of wikimedia.orgPhoto courtesy of wikimedia.orgThe stake in N block cost KazMunaiGas $32 million, 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.

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