Middle East Economic Survey

VOL. XLVIII

No 1

3-January-2005

CASPIAN

Nelson Resources To Acquire Shares In Kazakhstans Arman And Karakuduk Oilfields

Canadas Nelson Resources announced on 23 December 2004 that it was involved in definitive sale and purchase agreements to acquire from Kazakhstans state-owned oil and gas company, KazMunaiGaz, a 50% interest in the Arman oilfield for $10.8mn and 40% share in the Karakuduk oilfield for $36mn. The 8,650 acre Arman oilfield has crude reserves...