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...
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