CASPIAN

 

MOL Expands Kazakhstan Presence

KMG EP, the upstream subsidiary of Kazakhstan’s state gas firm KazMunaiGaz (KMG), announced on 19 July it had signed an agreement to sell a 49% stake in the North Karpovsky oil and gas exploration block to Hungary’s MOL. Located onshore in northwest Kazakhstan near the city of Uralsk, it is close to the Fedorovsky block where a MOL-led consortium discovered gas condensate in 2008. The block, which extends...