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
On 11 February, heads of state or government of European Union member states will meet in Brussels to seek a commitment towards implementing a revitalised economic strategy to boost employment and growth in the EU.
more »
International Monetary Fund forecasts that Lithuania’s economy will grow 1.6 % this year, making it “the only one of the three Baltic economies expected to be in the positive territory in 2010”.
more »
Raynair announced it would open its 40th and 1st Central European base at Kaunas, Lithuania’s second largest city, in May with 2 based aircraft and 18 routes.
more »
A new Partnership Strategy for Morocco has been approved by the Board of Executive Directors of the World Bank.
more »
The electric car is an opportunity for European industry.
more »
The EBRD’s Board of Directors has adopted a new strategy for Kazakhstan, which reinforces the Bank’s commitment to further support the Kazakh economy and sets out the priorities for its activities in the country over the next three years.
more »
The European Commission has authorised, under EU state aid rules, plans notified by Sweden to provide a guarantee that would enable Saab Automobile AB to access a loan from the European Investment Bank (EIB).
more »
At the informal meeting of the Ministers of Competitiveness (Science and Industry), to be held between 7 and 9 February in San Sebastian, the issues on the table will include placing science at the top of the EU agenda and showcasing its role in economic recovery, as well taking the debate on the electric vehicle to EU level.
more »
The Executive Board of the International Monetary Fund (IMF) today approved a 27-month Stand-By Arrangement with Jamaica in the amount of SDR 820.5 million (about US$1.27 billion) to support the country’s economic reforms and help it cope with the consequences of the global downturn.
more »
Mr. Nadeem Ilahi, chief of an International Monetary Fund (IMF) staff mission to the Kyrgyz Republic, issued the following statement today in Bishkek.
more »