BG Group PLC is in talks with the London-listed subsidiary of
Kazakhstan's national oil company over new joint ventures in oil and
gas, the London-based Times newspaper reports Tuesday, citing the
subsidiary's chief executive.
KazMunaiGas Exploration Production, or KMG EP, has plans to
expand rapidly in Kazakhstan, but Askar Balzhanov, its chief executive,
also wants to do deals with international oil companies to extend its
reach outside the Central Asian republic, the newspaper said.
"We are looking at opportunities to do joint operations and
they might involve asset swaps," Balzhanov said in the report, adding
that he indicated that he was discussing opportunities with BG Group
this week. The U.K.company is already its lead partner in Karachaganak,
a $5 billion gas project in Kazakhstan.