Kazakhstan preempts ONGC Videsh Caspian bid

The government of Kazakhstan has preempted a bid by ONGC Videsh of India to acquire the 8.4% stake held by ConocoPhillips in the North Caspian Sea Production Sharing Agreement, which includes giant Kashagan oil and gas field (OGJ Online, Dec. 3, 2012).

State-owned KazMunaiGaz will buy the interest. Kazakhstan’s subsoil law provides for the preemption.

North Caspian Operating Co. operates the production-sharing agreement for seven companies.

ConocoPhillips said it expects proceeds of its sale to remain at about $5 billion, subject to normal adjustments.

Related Articles

Judge bars Anadarko e-mails as evidence in Macondo blowout hearing

03/21/2014 A federal district judge in New Orleans refused to accept e-mails between Anadarko Petroleum Corp. and BP PLC as evidence in a hearing to determine...

Industry group welcomes most UK budget moves

03/21/2014 Oil & Gas UK voiced support for all but one of several measures affecting the offshore producing industry announced in the UK government’s annu...

MARKET WATCH: Crude oil, gas futures prices slide entering spring

03/21/2014

The first day of spring in the northern hemisphere was marked by lower crude oil and natural gas futures prices.

OMV acquires West of Shetland licenses from Hess

03/21/2014 OMV AG has reached an agreement with Hess Corp. to acquire four licenses in West of Shetland, UK, including Cambo field and the Blackrock prospect,...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected