One-Page Deal Sheet
Kazakhhstan Government acquires 10$ stake in Karachaganak Project
Kazmunaigas Exploration Production BG Group, Chevron Corp, Eni S.P.A
Announced Date
December 12,2011
Close Date
December 12,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
3000
Asset/Basin:
{"Pre-Caspian Basin","Karachaganak Field"}
Location
Country
Kazakhstan
Transaction Details: Subscribe to see
KazMunaiGas, the state-owned oil and gas company of Kazakhstan, has agreed to pay US$3 billion for a 10% stake in the country’s Karachaganak gas and condensate project in a landmark agreement to settle years of disputes with foreign investors.
According to the consortium developing the project, KazMunaiGas (KMG) will acquire the stake proportionately from each member including joint operators UK’s BG Group (32.5%) and Italy’s ENI (32.5%), US major Chevron International Petroleum Company (20%) and Russia’s Lukoil (15%) by June 30 2012. With KMG’s participation, BG Group and ENI will each own…
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