2009-08-19-2007-02-01-2007-02-01

Proved: 400 MMBO

China International Trust & Investment Corp. (Citic), a Chinese state investment company, has acquired the Kazakh oil assets of privately owned Nations Energy Co. Ltd., Calgary, for US$1.9 billion, according to Associated Press. Citic has granted Kazakhstan's state-owned oil company KazMunaiGas an option to a 50% interest in Nations Energy, AP reports. The assets are in the Karazhanbas, Kura Valley Mishovdag and Kemaleddin fields near the Caspian Sea. Production is 50,000 barrels of oil per day with proved reserves of more than 400 million barrels.