KazMunayGas to transfer Kashagan stake from subsidiary to parent companyKazMunayGas (KMG) will acquire 100% of KMG Kashagan B.V., a shareholder in North Caspian Operating Company (NCOC) with a 16.877% stake, from its Netherlands-based subsidiary, Cooperatieve KazMunaiGaz U.A., KMG said in a statement.The transaction is between related parties, under which KazMunayGas will purchase KMG Kashagan B.V. at market value determined by independent appraiser Ernst & Young. The deal value is not disclosed. The company only said the value is equivalent to 14.8% of its total assets.The company's first-half 2026 financial statements put KazMunayGas assets at 18.97 trillion tenge. That values KMG Kashagan B.V. at about 2.8 trillion tenge ($6.4 billion at the current rate).In 2014, KazMunayGas transferred ownership of KMG Kashagan B.V. to its Netherlands-registered subsidiary, Cooperatieve KazMunaiGaz U.A. That company also holds a stake for KazMunayGas in Ural Oil & Gas LLP, which develops the Rozhkovskoye field in western Kazakhstan.KMG Kashagan B.V. manages Kazakhstan's 16.88% stake in the North Caspian Production Sharing Agreement.KazMunayGas is Kazakhstan's national oil and gas company, representing state interests in exploration, production, refining and transportation.Kazakhstan is currently in a legal dispute with the NCOC consortium over environmental violations detected in 2022, seeking to recover 2.3 trillion tenge ($5.2 billion) from the field operator. (ICE ALMATY)

Fonte notizia: INTERFAX