Poland's Prokom confirms purchase of Kazakhstan oil fields, despite denials by the country

Poland's Prokom Investments Friday (25/08/06/) re-confirmed the acquisition of stakes in four companies licensed for oil exploration and extraction in Kazakhstan, despite repeated denials by that country's energy and mineral resources ministry.

"In response to the Kazakhstani ministry's statements, we confirm the fact of the acquisition by our subsidiary of shares in companies licensed for oil extraction and exploration in Kazakhstan," Prokom Investments spokesman Marek Zieleniewski told Interfax. "The payments have been made. We are at present finalizing the legal aspects of the transactions."

Petrolinvest, controlled by Polish tycoon Ryszard Krauze through Prokom Investments, paid USD 400 mln for 50% stakes in three companies and a 35% stake in a fourth, all holding licenses to oil fields with combined reserves of 2 bln barrels, Polish daily Gazeta Wyborcza reported on August 12.
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