China’s CITIC Buys Big Kazakh Oilfield for $1.9 bln – Jonathan Leff and Dominic Whiting

From :

China’s CITIC Group, a diversified state-owned investment vehicle with few interests, furthered ’s drive for overseas energy assets on Thursday with the $1.9 billion purchase of a large Kazakh field.

has agreed to buy the Kazakh oil assets of Canada-based Nations Energy Co Ltd., the cornerstone of which is the Karazhanbas oil and field, which has proved reserves of more than 340 million barrels and production of over 50,000 barrels per day (bpd), the said in a statement.[Full Text]

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