American international petroleum awarded extension for license 953 in Kazakhstan
Published:
2 November 2002 y., Saturday
American International Petroleum Corporation announced its wholly-owned subsidiary, American International Petroleum Kazakhstan (AIPK), has received a two year extension for its License 953 from the Ministry of Energy and Mineral Resources of the Republic of Kazakhstan.
AIPK owns two licenses in Kazakhstan; exploration License 953, in which it has a 70% working interest, and production License 1551, the Shagyrly-Shomyshty gas field, in which it has 100% interest. Based upon data developed on License 953, further exploration efforts should be focused on the eastern portion of the block. Therefore, under this new contractual arrangement with the Kazakhstan government, AIPK will retain the eastern section of the block to concentrate on deep gas exploration activities, relinquishing certain western acreage.
The Company is currently having discussions with industry participants that could result in utilization of its Lake Charles refinery and is concurrently in negotiations to raise additional working capital. However, there are no assurances that all, or any, of these initiatives can be consummated. American International Petroleum Corporation is a diversified petroleum company which, through various wholly owned subsidiaries, is involved in oil and gas exploration and development in Kazakhstan, and in refining, marketing and transportation of petroleum products in the United States.
Statements herein may be identified as forward-looking for purposes of safe harbor provisions under Section 21E of the Securities and Exchange Commission Act of 1934.
Šaltinis:
herald.kz
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Parliament's proposal for its own operational budget for 2011 includes the financing of measures in preparation for enlargement with Croatia.
more »
Links between business and the academic world need to be strengthened but higher education institutions must retain their autonomy and public support, says a resolution adopted on Thursday by the European Parliament.
more »
The Spanish Minister of Economy and Finance, Elena Salgado, will present the additional fiscal tightening measures set out by the Spanish Government to her eurozone (Eurogroup) counterparts on Monday; the measures were required by Spain’s European partners as a condition of approving the plan to bolster the euro on 9 May.
more »
The European Commission has opened an in-depth investigation under EU State aid rules into capital injections destined to two subsidiaries of state owned company Elan Skupina in Slovenia.
more »
GDP growth in the EU expected to gradually pick up, though recovery less robust than past upturns.
more »
The EESC tabled its opinion on the regulation of alternative investment funds, such as hedge funds and private funds. Although endorsing the much debated proposal of the European Commission, the EESC calls for uniform risk data provision for all such funds and emphasizes their responsibility in triggering the crisis.
more »
Concluding the process and deciding on the schedule for releasing the funds agreed on for Greece, as well as examining and learning lessons from the crisis for the governance of the eurozone, will be the focus of the discussions of the heads of state and government at the meeting in Brussels this Friday.
more »
The EU pavilion at the world expo in Shanghai marks the first time the EU has presented itself to a large Chinese audience.
more »
Shanghai's World Expo offers visitors plenty of fun offering bizarre things to do at over 200 pavillions competing for attention.
more »
The European Investment Bank (EIB) is providing a loan of EUR 150 million to MVM Zrt. for the capacity increase and the extension of a high-voltage transmission network, partly constituting priority axes of the Trans-European Energy Network (TEN-E) in Hungary.
more »