Middle East Economic Survey

VOL. L

No 43

22-October-2007

CASPIAN

KMG E&P To Purchase 50% Of Karazhanbas Oilfield

KazMunaiGaz Exploration and Production (KMG E&P), the London-listed upstream arm of Kazakhstans state-owned KazMunaiGaz, is to purchase 50% of CITIC Canada Energy, 100% owner of CITIC Canada Petroleum, from Hong Kongs CITIC Group for $930mn. CITIC Group completed its purchase of Canadas Nations Energy in January for $1.9bn and agreed with Kazakhstan to give KazMunaiGaz an option...