KMG EP withdraws from the project because of the hopelessness of White bear.
Edited by Rhod Mackenzie / 2014-04-02 06:20:21
The Kazakh company JSC ""KazMunaiGas" Exploration Production" (KMG EP is a part of "KazMunaiGas" companies) withdraws from the "White Bear" project, Abat Nurseitov, the head of KMG EP, stated at a press conference on Wednesday.
"Yes, we go out of this project. Since our hopes and estimates failed, the well was dry. The company itself that offered this unit is already gone", - Nurseitov stated.
He added that now KMG EP is preparing the documents for the next board of directors meeting to withdraw from the project.
KMG EP and the BG group signed an agreement
