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December 2007 |
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The
Board of Directors of Lancaster Petroleum (LP) has appointed Mr. Frank
Hayes as CEO of the company. Mr. Hayes brings extensive experience in
the oil and gas sector having worked for a number of international oil
and gas companies. Mr. Hayes worked extensively for Shell and his
recent senior roles were Vice President Exploration and Production,
PetroKazakhstan Kumkoil Resources Ltd in Kazakhstan and Chief Executive
Officer, West Siberian Resources Ltd (formerly Vostok Oil Ltd) in
Russia. By resolution of the general shareholders meeting, Mr. Hayes is
also appointed a Member of the Board of Directors of Lancaster
Petroleum.
The company has also informed of the appointment of
Mr. Domenico Spada and Mr. Alexander Barunin as Independent Directors
to the Board of Directors of Lancaster Petroleum. Mr. Spada’s valuable
contribution to the Board of Directors includes 37 years of activity
for the ENI Group with achievements in managing large business units
and world class projects. He previously held positions of Managing
Director AGIP KCO Kazakhstan and ENI’s Vice President Production
Operation worldwide. Mr. Barunin is a senior level finance professional
whose diverse and extensive experience includes his recent positions as
Deputy CFO at Megafon, a leading mobile operator in Russia, and Member
of the Board of Directors at a number of other Russian
telecommunication companies.
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November 2007 |
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UBS
Annual investment conference “Russia, Ukraine and Kazakhstan: Fuelled
by Domestic Development” took place in Moscow on November 15-16.
Organized by investment bank UBS, this is a major event for investment
communities of Russia and Eastern Europe. Lancaster Group was invited
to participate in the conference which brings together major oil and
gas companies, banks, and government officials. IPNet was represented
at the round table by CEO Murad Sofizade who made a presentation on
“Russian Telecom market landscape: perspective from a niche market
leader”.
ERSAI has delivered the main Power Generation
Module-8 having successfully completed the inshore hook-up work at the
Kuryk Yard, Mangistau, Kazakhstan. Module-8 is the first of a series of
modules to be completed in the Caspian region for the Kashagan Project.
The module, 95m long, 16m wide and 4800 ton in weight, was built in
Malta and arrived in Kuryk in July this year. This work is carried out
under the Early Works Activities of the Kashagan hook-up and
commissioning Project assigned by AKCO to unincorporated consortium
Aker/ERSAI.
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September 2007 |
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Alatau
Hospitality acquires a 50% interest in the new 107 room Four Seasons
Hotel on the French Polynesia's Bora Bora island. The hotel is now
under construction and is scheduled to open in mid-2008.
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August 2007 |
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KKM
Operating Company (KKM OC) is to be renamed Lancaster Petroleum JSC
following a decision made during a monthly meeting of shareholders.
State registration of changes has commenced.
ERSAI
Caspian Contractor LLC is currently involved in the construction of
pipe racks for the Kashagan project under the Ancillaries Contract with
AGIP KCO. The company has delivered the first pipe-rack from its
construction yard and marine support base in Kuryk. ERSAI Caspian
Contractor has also informed of the extension of jetty and quay wall
with break water in Kuryk Yard. Total investment for Kuryk Yard is over
$ 82 million for all activities.
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July 2007 |
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KazInvestBank
(KIB) signs another agreement with the European Bank for Reconstruction
and Development (EBRD) under its Trade Facilitation Program. Facility
amount of $10 million is now increased up to $30 million. This will
enable KIB to further develop its foreign trade business and franchise
in the international market. Earlier in June, EBRD and Citi Venture
Capital International (CVCI) have taken an equity share in KIB worth
$20 million each. Such investments had a very positive effect on the
total assets of KIB, reaching $330 million, while the credit portfolio
reached $206 million. Upon the introduction of new capital, KIB net
income after tax reached $0.6 million per month.
KKM
Operating Company (KKM OC) reported first half of 2007 oil production
at 55,000 tons from the Kokzhide and Kumsai fields. KKM OC received
approval from the Central Commission of the Republic of Kazakhstan on
oil and gas fields development for its pilot project on sites of the
natural bitumen field Mortuk.
Agip
KCO and an unincorporated Aker Kvaerner/ERSAI consortium have signed a
preliminary contract relevant to the hook-up and commissioning work for
Kashagan field development in the Caspian Sea. The preliminary contract
covers early work activities for the hook-up and commissioning for a
period until 30 September 2007. These activities are agreed in the
preliminary contract and worth up to $91 million.
Lancaster
Invest has seen a number of key events realised this month. A joint
venture with the Russian VSP VneshStroyProject, VSP Lancaster LLP was
established. The Fujitsu-Siemens Computers Assembly Plant project was
approved by shareholders of the Advant Venture Fund. Special
Investments Closed Unit Investment Trust was established and registered
with the Agency of the Republic of Kazakhstan for regulation and
supervision of financial markets and financial organizations (AFN). The
Ministry of Education of the Republic of Kazakhstan granted a license
for Additional Professional Education to FuturTech LLP.
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June 2007 |
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The
European Bank for Reconstruction and Development (EBRD) invested $20
million in KazInvestBank’s (KIB) equity. Citi Venture Capital
International (CVCI) invested $20 million in KIB’s equity and $12
million as convertible bonds, representing the first investment in
Kazakhstan by CVCI. As a result KIB’s share capital increased from $37
million to $80 million.
Lancaster Invest reported that
negotiations with the Turkish companies, Soyak Insaat ve Ticaret A.S.
and Tahincioglu Gayrimenkul Insaat ve Turizm A.S. have resulted in the
establishment of a joint venture, Soyak-Lancaster-Tahinci LLP.
KKM
Operating Company (KKM OC) signed a contract with the Ministry of
Energy and Mineral Resources of the Republic of Kazakhstan for
prolongation of exploration in the Kokzhide and Kumsai fields through
2008. Drilling in conjunction with the Chinese national oil and gas
corporation Sinopek continued in the Kokzhide field.
IPNet’s satellite network increased threefold reaching 1000 terminal
stations. IPNet JSC is a federal operator of VSAT satellite
technologies and certified provider and systems integrator of the
Hughes Network Systems (HNS) solutions in Russia. Founded in 2000,
IPNet operates its own Central Control Satellite Station in Moscow.
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National
Innovation Fund of Kazakhstan has made a successful exit from Advant venture
fund earning 50 mln tenge profit
...
Eurasian Development Bank (EDB) has granted Syrymbet JSC credit of $48,7 mln for implementation of the tin production project
...
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