China-based private oil company Geo-Jade Petroleum Corporation (600759.SH) Wednesday said it plans to bid for the purchase of Kazakh energy company Tegis Munay LLP by paying around 53.64 million US dollars.
Tegis Munay LLP is a wholly-owned subsidiary of JSC Samruk Energy, which is 100-percent owned by state-owned Samruk-Kazyna.
Tegis Munay LLP has long-term investment in Mangushlak Munay LLP, which owns 100 percent shares of Pridorozhnoye gas field with an area of 72.3 square km. Now, Pridorozhnoye gas field has 17 wells in production and plans to form 1 billion cubic meters of production capacity in the coming years.
Geo-Jade Petroleum said natural gas output from the gas field could be pumped into trunk pipelines, which are linked with China.
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