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Roxi sees 18 mln barrels reserves at Kazakh wells

BAKU. May 13. KAZINFORM Kazakhstan-based oil explorer Roxi Petroleum Plc (RXP.L) said on Tuesday it successfully tested two wells in central Kazakhstan, Reuters reported, Kazinform refers to Trend Capital. The company said it estimated reserves of 13 million barrels of C1 and 5 million barrels of C2. Roxi said the average daily test production from the NW Konus field is 1,000 barrels of oil per day. Roxi plans to seek shareholder approval to rebase its nominal share value in order to help discussions with parties for new funding, Kazinform cites Trend Capital. See for full version. *** Nazarbayev: Kazakhstan-South Korean talks on building petrochemical complex in Atyrau to be successful ASTANA. May 13. KAZINFORM /Aigul Tulekbayeva/ President of Kazakhstan Nursultan Nazarbayev considers the negotiations with South Korea regarding construction of a petrochemical complex in Atyrau will be successful. The Head of the State has made it public at a press conference following the meeting with his South Korean counterpart. As is known, earlier South-Korean Company LG Chemical expressed interest in realization of this project. The capacity of the petrochemical complex will make 800 thousand tons of polyethylene and 400 thousand tons of polypropylene per annum. The complex is planned to be commissioned in 2014. *** Kazakhstan, S Korea to continue coop in culture and economy ASTANA. May 13. KAZINFORM /Aigul Tulekbayeva/ Presidents of Kazakhstan and South Korea Nursultan Nazarbayev and Lee Myung-Bak will consider an issue of holding jointly the Years of Kazakhstan in South Korea and the Republic of Korea in Kazakhstan. УWe agreed to consider the issue of announcing 2010 the Year of Kazakhstan in the Republic of Korea and 2011 Ц the Year of South Korea in Kazakhstan to let our peoples get familiarized with the cultures and economies of our countriesФ, Head of the State Nursultan Nazarbayev has said at a press conference in Akorda. In a joint statement the parties confirmed their intentions to continue rendering assistance in development of ethno-cultural associations of the Koreans living in Kazakhstan. As is known over 100 thousand Koreans are living in Kazakhstan to date. *** Implementation of investment projects to promote Kazakh-S Korean relations Ц Nazarbayev ASTANA. May 13. KAZINFORM /Muratbek Makulbekov/ Kazakhstan and South Korea have signed a number of documents following the meeting of the two countriesТ Leaders in Akorda Palace today. In particular, the sides signed an Action Plan on deepening cooperation. The document was inked by Minister of Industry and Trade of Kazakhstan Vladimir Shkolnik and Minister of Foreign Affairs and Trade of South Korea Yu Myung-hwan. After then an Agreement on cooperation in construction of Balkhash Thermal Power Plant was reached. From the Kazakh side the document was signed by Chairman of SamrukKazyna National Welfare Fund Kairat Kelimbetov and Chairman of Kazakhmys, from the Korean side Ц by President of Korea Electric Power Corporation (KEPCO) Kim Ssang Su and President of Samsung C&T Corporation Chi Seong Ha. A press conference took place following the ceremony of singing the documents. УWe make a point of the joint statement adopted today and the Action Plan on deepening cooperation that has been just signed. Implementation of certain investment projects will raise our relations to a brand new level. I would like to note particularly the agreement between SamrukKazyna Fund and KEPCO-Samsung on construction of the Balkhash Thermal Power Plant. The volume of the investments into the project will comprise USD 4.5 blnФ, N. Nazarbayev said. *** Kazakhstan looking to coop with S Korea in breakthrough projects development ASTANA. May 13. KAZINFORM. /Narymbek Ismagulov/ Kazakhstan is looking to cooperate with South Korea in development of innovation breakthrough projects in non-extractive industries. Kazakh Prime Minister Karim Massimov has made it public at today’s Kazakh-Chinese business forum in Astana. “Official visit of the Korean President once again testifies to successful development of relations between the two states. Kazakhstan and South Korea are effective partners in various spheres”, K. Massimov said. According to him, despite the world financial crisis the two countries continue cooperation, particularly in the spheres of energy, natural resources, construction and financial sector. Diversification of economy is one of the strategic purposes of Kazakhstan. Priority spheres are renewable energy sources, IT industry, chemical industry and cargo transportation.


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