Kazakh state oil and gas company Kazmunaigas has purchased a Batumi port and Batumi Oil Terminal from the Greenoak Group, Prime-Tass news agency reported Wednesday.
Kazakh state oil and gas company Kazmunaigas has purchased a Batumi port and Batumi Oil Terminal from the Greenoak Group, Prime-Tass news agency reported Wednesday.
Annual shipments through the terminal in Batumi has reached 15 million metric tons, Prime-Tass reported, citing a statement by Greenoak.
No price for the deal has been disclosed, the news report said. KazMunaiGas officials weren't immediately available to confirm the report.
The Kazakh energy company has been looking for opportunities to diversify export routes for Kazakh crude oil and getting additional access to the Black Sea as Kazakhstan plans to boost its oil production from 1.3 million barrels a day to 2.6 million-3 million barrels a day by 2015.
The Kazakh company also plans to build an oil refinery in Batumi.
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