Отправлено 10 October 2008 - 12:36
KazMunaiGas EP Approves $350 Million Share Buyback (Update)
Oct. 9 - KazMunaiGas Exploration Production, the London-traded unit of Kazakhstan's state energy company, approved a $350 million share buyback program.
The program, giving the company the option to buy common shares listed on the Kazakhstan Stock Exchange and global depositary receipts, will start ``in the next few weeks and will take up to twelve months to execute,'' the Astana-based company said today in a statement.
Kazmunaigas EP produced 8.9 million tons of crude, or 238,710 barrels a day, in the first nine months of 2008, according to a separate statement.
The total includes 32,430 barrels a day from the Kagermunai fields and 16,390 barrels a day from Karazhanbasmunai, the company said.
Kairgeldy Kabyldin, announced as chief executive officer of parent company KazMunaiGaz National Co. on Aug. 20, was elected chairman of KazMunaiGas EP.