Kazakh and Chinese state oil firms' joint $3.3 billion acquisition of a Kazakh private upstream company has been delayed, Kazakhstan said on Wednesday without providing the timeframe or the reason for the delay.
The acquisition of MangistauMunaiGas (MMG), part of a $10 billion "loan for oil" deal agreed this year, was due to be completed in July. But Kazakh state oil company KazMunaiGas KMG.UL said it had yet to be finalized.
"The term (of closing the deal) has been extended by the parties' mutual agreement," a KazMunaiGas spokesman said.
"Several issues are being resolved."
He did not say when the deal would be closed and whether the price that KazMunaiGas and China's CNPC are paying could change.
MangistauMunaiGas, based in the Kazakh town of Aktau, has residual oil reserves of 812 million tons, including 194 tons of extractable reserves.
