Mittal Investments, a subsidiary of Mittal Group, Indore, India, (NYSE: MT; Bombay: 511672) plans to acquire half of the Caspian Investment Resources Ltd. subsidiary of Lukoil, Moscow, (Hamburg: LKOH) for US$980 million plus US$160 million in assumed debt for a total deal valued at US$1.14 billion. Caspian Investment's assets include interests in the Alibekmola, Kozhasay, North Buzachi, Karakuduk and Arman fields in the Aktubinsk and Mangistau regions of Kazakhstan. It acquired Canada-based Nelson Resources in 2005, which has production of 30,000 barrels of oil per day and proved-plus-probable reserves of approximately 270 million barrels in Kazakhstan.
Recommended Reading
Infrastructure Firm HASI Makes Executive Leadership Changes
2025-02-18 - HA Sustainable Infrastructure Capital Inc. announced four executive leadership appointments, effective March 1.
Expand Appoints Dan Turco to EVP of Marketing, Commercial
2025-02-13 - Expand Energy Corp. has appointed industry veteran Dan Turco as executive vice president of marketing and commercial.
Imperial Appoints New President, CEO Following Brad Corson’s Retirement
2025-02-13 - Imperial’s board of directors has appointed Exxon Mobil’s John Whelan as president effective April 1 and to assume the roles of chairman and CEO on May 8.
Italy's Intesa Sanpaolo Adds to List of Banks Shunning Papua LNG Project
2025-02-13 - Italy's largest banking group, Intesa Sanpaolo, is the latest in a list of banks unwilling to finance a $10 billion LNG project in Papua New Guinea being developed by France's TotalEnergies, Australia's Santos and the U.S.' Exxon Mobil.
Trump Nominates E&P Advocate Sgamma to Head Bureau of Land Management
2025-02-12 - If confirmed by the Senate, Kathleen Sgamma, president of the Western Energy Alliance, would oversee management of approximately 245 million acres of surface lands.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.