South Korea’s KNoC to enter oil block in Kazakhstan

摘要

London—South Korea’s state-owned KoreaNational Oil Corporation is to take a 35%stake in the BNG oil block in western Kazakh-stan from UK-listed Roxi Petroleum, Roxi saidMarch 20, as the Korean company continuesto expand its exploration portfolio abroad.Bakmura, a wholly owned KNOC subsid-iary, is also expected to take over as operatorof the block, which has a best estimate ofaround 500 million barrels of oil in place.Bakmura is to pay $5 million for the stakeand invest a further $25 million in the BNGContract Area work program in return for the35% interest, Roxi said.