VOL. XLVI

No 11

17-March-2003

CASPIAN

BG Sells Kashagan Holding To Chinas CNOOC And Sinopec

BG has announced that it will sell is 16.67% interest in Kazakstans offshore Kashagan oilfield to CNOOC North Caspian Sea and Sinopec, splitting the stake evenly between the two Chinese companies at 8.33% and charging each $615mn. The effective date for the transactions is 1 January 2003, at which time BG valued its holding in the North Sea Caspian production sharing agreement (PSA) at around $366mn. The...