China got an 8% share in Kashagan deposit development project
Edited by Rhod Mackenzie / 2013-09-09 05:55:07
The cost of the deal of CNPC on the acquisition of an 8% share in “Kashagan” will make up $5 billion. The head of the national company “KazMunaiGaz” S.Mynbaev said today.
“The deal is valued at $5 billion (either it is bought by “KazMunaiGaz” or CNPC),” Mynbaev said summing up the results of the Kazakhstani-Chinese Business Council.
“But besides the price of purchase and sale there are a number of other terms. In particular, China will finance half of the investments, which “KazMunaiGaz” is to finance in accordance with its share commitment. Besides, there will constructed a pipe plant, an industrial complex for oil equipment in Aktau and there will realized some social facilities in Astana involving CNPC,” he has added.
