Turkey's TPAO Sells Stake in Joint Venture with Kazakhstan's KMG

ISTANBUL--August 11, 2014--Researched by Industrial Info Resources (Sugar Land, Texas)--Turkey's state-owned oil company Turkiye Petrolleri AO (TPAO) (Ankara, Turkey) has transferred its minority stake in the KazakhTurkMunay joint venture to 51% stakeholder Kazakhstan's KazMunaiGaz (KMG). TPAO had 49% of the shares in the venture. Turkish Energy Minister Taner Yildiz said Turkey discarded an arbitration case with Kazakhstan and agreed to sell its stake for $205 million.

Within this article: Information regarding KazakhTurkMunay, a former joint venture oil and gas exploration company between Turkey and Kazakhstan.

Other companies featured: Exxon Mobil (NYSE:XOM), Royal Dutch Shell (NYSE:RDS.A), Eni SpA (NYSE:E), Total S.A. (NYSE:TOT)