29.06.2009, 17:45 2926

BP Plc finishes its work in Kazakhstan

BP Plc expects to receive about $2 billion from sale of its Kazakhstan shares, which include a share in the Caspian Pipeline Consortium (CPC). Thus, the company is finishing its work in Kazakhstan, the agency reports citing Bloomberg.

Almaty. June 29. Kazakhstan Today - BP Plc expects to receive about $2 billion from sale of its Kazakhstan shares, which include a share in the Caspian Pipeline Consortium (CPC). Thus, the company is finishing its work in Kazakhstan, the agency reports citing Bloomberg.

"We consider that it would be better for us to transfer to Russia and Azerbaijan," the head of the regional branch of BP, David Peattie, said in the interview. "We do not have any reinvestment plans in Kazakhstan," he specified.

"The second largest in Europe manufacturer of oil leaves Kazakhstan, while other oil companies increase manufacture in this country. Chevron Corp., Eni SpA and BG Group Plc intend to expand participation in the projects in Kazakhstan with 3.2 % of world's reserves of oil," k2kapital.com. informs

As informed earlier, in the end of April, 2009, JSC National Company KazMunaiGas finished transaction on acquisition of the share of British Petroleum in joint venture Kazakhstan Pipeline Ventures (KPV), which is CPC's shareholder with an individual share of 1.75 %. As a result of this transaction, KazMunaiGas became an absolute Kazakhstan Pipeline Ventures owner.

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