VOL. XLIV

No. 26

25-June-2001

CASPIAN

TotalFinaElf Finalizes Purchase Of BP And Statoil OKIOC Shares

TotalFinaElf announced on 18 June that it had finalized agreements with BP and Statoil to purchase their shares in the Offshore Kazakstan International Operating Company (OKIOC). TotalFinaElf did not disclose the amount that it paid for the shares, but MEES understands that the deal is worth some $614mn, with $409mn BPs 9.5% interest and $205mn for Statoils 4.8% stake. The agreement raises...