Middle East Economic Survey

VOL. LIV

No 17

25-Apr-2011

CASPIAN

KMG EP Completes Acquisition Of Stake In UGL

KazMunaiGas Exploration Production (KMG EP), the upstream subsidiary of Kazakh state firm KazMunaiGaz (KMG), announced on 19 April the closing of a transaction to acquire a 50% stake in Ural Group Limited (UGL) from Exploration Venture Limited (EVL). UGL holds the exploration license for the Fedorovskiy block, which lies near Uralsk in western Kazakhstan and is close to a number of...