South Korea's KNOC buys 85% stake in Kazakh E&P

摘要

Seoul -State-run Korea National Oil Corporation has acquired a majority stake in an energy company in Kazakhstan for $335 million, the energy ministry said December 29. The move is KNOC's second this quarter as government loans help buttress financing. KNOC and its Kazakh partner acquired 85% and 15% stakes respectively in Sumbe AO which is expected to produce 20,000 b/d of crude oil from its Arystan and Kulzhan oil fields by 2014, it said.