Gazprom and Rosneft merging will not influence upon development of joint Kazakhstani-Russian oil projects

The merging of Gazprom OJSC and Rosneft OJSC will not influence upon development of joint Kazakhstani-Russian oil projects. Vladimir Shkolnik, minister of energy and mineral resources of RK stared this yesterday at the opening ceremony of Atasu-Alashankou pipeline construction, KZ-today correspondent reports.

The merging of the largest Russian companies will not have an impact upon realization of the joint projects, as the agreements "have been signed at the highest level and ratified by the parliaments of the two states", the minister said.

Earlier it was reported, the Russian government proposed to increase its stake in OJSC Gazprom by means of share transfer. Such increase will be realized by the transfer of the shares of the OJSC Rosneft, which will become a 100% owned subsidiary of Gazprom.

OJSC Rosneft holds a 50% interest in the project pf Adaisk field development on the territory of Kazakhstan since July 2001.

Besides, a draft of the production sharing agreement on Kurmangazy field development between Kazakhstan and OJSC Rosneft has not been agreed yet.

Translated by Nataliya Shirinskikh