Polish firm gets access to oil deposits in Kazakhstan

Polish Prokom Investments' CEO Ryszard Krauze said Prokom's daughter company Petrolinvest had bought shares in four Kazakh companies with access to crude oil deposits, reported the PAP news agency on Sunday.

Prokom's entry into the Kazakh market will help other Polish firms of the sector, Krauze said.

Other reports showed that for three Kazakh companies, Prokom got more than half of their shares and for the fourth at 35 percent. The purchase gave Prokom the access to deposits estimated at 2 billion barrels.

Krauze denied having known about the involvement of the Polish government in the deal, and said the possibilities of insuring the transaction from "political risk" would be thoroughly examined.

He added that more information about the deal will be released at a news conference on September 1.

Source: Xinhua