No. 39



Texaco Buys 65% Stake Of Kazak Field From Nimir Petroleum

Texaco announced on 23 September that it had bought a 65% share in theNorth Buzachi oil field in western Kazakstan from Saudi Arabias Nimir Petroleum Co.(NPC). Terms of the sale were not released. Nimir signed a 25-year development andproduction agreement with Kazakstan in June 1997 for North Buzachi, which lies south ofthe giant Tengiz field and some 195 kms. north of the Caspian sea port of Aktau....