KazMunayGas E&P completes acquisition of 33% stake in PetroKazakhstan.

By bne IntelliNews December 25, 2009
KazMunayGas Exploration & Production ( KMG E&P) announced that it had closed the transaction to acquire a 33% stake in PetroKazakhstan from the national oil and gas holding KazMunayGas. The acquisition was approved by the BoD of KMG E&P, BoD of holding KazMunayGas and by majority of independent shareholders of KMG E&P. To remind you, holding KazMunayGas purchased a 33% stake in PetroKazakhstan from Chinese CNPC in 2006. The Chinese company presently holds a 67% stake in PetroKazakhstan.

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