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CNPC and KazMunayGas take over MangistauMunaiGas

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Publish time: 26th November, 2009      Source: CNPC
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On November 25, 2009, Mangistau Investments B.V. (Mangistau), a joint venture owned equally by CNPC Exploration and Development Company Ltd (CNPC E&D) and JSC National Company "KazMunayGas" (KMG), acquired 100% of the common shares of JSC "Mangistaumunaigas" (MMG), through an open trade conducted on the Kazakhstan Stock Exchange. The acquisition was principally financed by a loan to Mangistau from The Export-Import Bank of China.

CNPC E&D is a joint venture equally owned by PetroChina and China National Oil & Gas Exploration and Development Corporation, subsidiaries of CNPC.