MALAYSIA-PRESS-Malaysia Building Society to use part of rights issue for expansion - Business Times

Tue Dec 10, 2013 8:01pm EST

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-------- Previous story: Sumatec Resources Bhd, which has been appointed operator of Rakushechnoye oil and gas field in Kazakhstan, will charge the oil field owner Markmore Energy (Labuan) Ltd a total fee of $45 million from 2014 to 2017 and a projected amount of $32.8 million per annum from 2017 onwards.

As part of the agreement it signed with Markmore yesterday, Sumatec is required to deliver a minimum requirement of 120 million standard cubic feet of gas (MMSCF) per day to an off-taker starting early 2017. Markmore is the owner of the concession and sub surface user rights for the Rakuschechnoye Field through its 100 percent subsidiary, CaspiOilGas LLP.


NOTE: Reuters has not verified this story and does not vouch for its accuracy.