Kazakhstan oil and gas deal agreed

CHINA National Oil and Gas Exploration and Development Corp has signed an agreement with KazMunaiGas, the Kazakh state oil company, to purchase JSC Mangistaumunaigas for US$3.3 billion.

The purchase of the major oil developer in Kazakhstan included two oil and gas fields and all its other oil and gas assets, according to the China National Petroleum Corporation, the parent company of the Chinese party.