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COMPANY NEWS: KMG EP to acquire interest in Citic Energy

10/15/2007
JSC KazMunaiGas Exploration Production (KMG EP) will buy a 50% stake in Citic Canada Energy Ltd. for $930 million, which will provide access to the Karazhanbas field in western Kazakhstan.In other recent company news: Norway’s Pertra ASA announced plans to merge with DNO ASA’s Det Norske Oljeselskap ASA (NOIL) in a move that will create the second-largest operator in Norway after the newly formed StatoilHydro ASA. OMV AG plans to grow production to 500,000 boe/d by 2010 from a current 324,000 boe/d through acquisitions and organic growth, a senior company executive told reporters Oct. 9 in Vienna.KMG EP acquisitionCitic Canada owns Citic Canada Petroleum Ltd., which has total ...
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