Petrolinvest hits the jackpot with Kazakh oil contracts

2008-01-18 00:00

publikacja
2008-01-18 00:00

The estimate takes into account the oil deposits the company acquired on Wednesday when it took full control of three Kazakh oil exploration companies for zł.1.2 billion, in what Ryszard Krauze billed as one of the largest overseas acquisitions ever by a Polish company. The deals increased Petrolinvest's reserves by 130%. "Thanks to the acquisitions we will significantly raise production of high grade oil still this year," said Paweł Gricuk, Petrolinvest CEO. According to unofficial information, the combined oil reserves controlled by Petrolinvest may be around 1.3 billion barrels, mostly in Kazakhstan and also in Russia. By comparison, Jan Kulczyk's Loon Energy sits atop of 700 million barrels of oil in Brunei, Columbia, Syria and Peru. (Parkiet, p. 2; Puls Biznesu, p. 13) R.M.

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Petrolinvest hits the jackpot with Kazakh oil contracts

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