ENI, KMG, Kazakhstan Ministry Agree on Isatay Use Rights Transfer
December 22 2017 - 6:26AM
Dow Jones News
By Marc Bisbal Arias
ENI SpA (ENI.MI) said Friday that it has signed an agreement
with the Ministry of Energy of the Republic of Kazakhstan and
KazMunaiGas (KMGZ.KX) to transfer 50% of the subsoil use rights of
the Isatay block to ENI for the exploration and production of
hydrocarbons.
Terms of the deal were not disclosed.
The block is estimated to have significant potential for
hydrocarbon resources, it said, which are geologically not complex
and technologically developable in a short time, the company
said.
This agreement expands the scope of ENI's activities in
Kazakhstan and consolidates the alliance with its partner
KazMunaiGas, it said.
Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com
(END) Dow Jones Newswires
December 22, 2017 06:11 ET (11:11 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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