UPDATE 1-KazMunaiGas, CNPC take over MangistauMunaiGas
25 Nov 2009 02:46:23 PST
* KazMunaiGas and CNPC pay $2.6 billion
* Takeover part of $10 billion "loan for oil" deal
ALMATY, Nov 25 - Kazakh state energy firm
KazMunaiGas and China's CNPC have bought Kazakh oil company
MangistauMunaiGas for $2.6 billion, KazMunaiGas and the Kazakh
stock exchange said on Wednesday.
A joint venture set up by KazMunaiGas and CNPC bought
MangistauMunaiGas from privately held Central Asia Petroleum,
KazMunaiGas said in a statement.
The stock exchange said in a separate statement the deal
valued MangistauMunaiGas at $2.6 billion.
The acquisition was part of a $10 billion 'loan for oil'
deal agreed this year between China and Kazakhstan.
MangistauMunaiGas, based in the Kazakh town of Aktau, has
residual oil reserves of 812 million tonnes, including 194
tonnes of extractable reserves.
(Writing by Olzhas Auyezov; Editing by Dan Lalor)