An in-operation oil field in Central Asia 55% shares for new investors

1. Oil and Gas Assets

The mining area has 680 million tons of oil reserves and 160 billion cubic meters of natural gas reserves. By the end of June 2024, the oil company had completed the drilling of 305 oil wells, with a total investment of 450 million US dollars (including debt).

2.Benefits

At present, all the oil wells completed by the company are in the cooperative blocks. In 2023, the net allocation of crude oil was 60,000 tons, with an average price of 550 US dollars per ton. The sales revenue was 33 million US dollars and the profit was over 20 million US dollars.

3.Transfer of 55% Equity at USD 1.55 billion

The company's oil and gas development project in Central Asia plans to produce 3 million tons of crude oil and 3 billion cubic meters of natural gas annually. To achieve these goals, the oil and gas reserves in the existing blocks can be guaranteed, but a considerable investment is required. In order to convert the resource reserves into production as soon as possible, the company has decided to transfer the Kyrgyz company to a third party. The company has decided to transfer 55% of its equity to the investor at a price of 1.55 billion US dollars. The transferee will bear all the investment in the later stage of oil and gas development