Kuala Lumpur, 2 April - Neftegaz.RU. Sumatec Resources Bhd on March 30, 2018, has won the right to build a condensate extractions plant for the Rakushechnoye oil and gas field in Kazakhstan.
It won the rights from Markmore Energy Ltd, which holds the entire participatory interest in Caspi Oil Gas LLP. Caspi Oil in turn is the concession owner and operator of the Rakushechnoye oil and gas field.
The plant will serve 80 million standard cubic feet per day of natural gas supplied from the Rakushechnoye oil and gas field, which produces light crude oil, Sumatec said in a filing with Bursa Malaysia.
Sumatec will pay Markmore Energy a sum of $155 million as entry cost in the form of cash, $100 million in new Sumatec shares and redeemable convertible preference shares worth $25 million.
The plant would be completed within 18 months from the date of signing of the gas supply agreement.
Sumatec said its share of the final products resulting from the plant will be 332 tonnes of LPG and 5,000 barrels of condensate per day, after all costs.
