Successful shipment of crude oil through Feodosia
London – August 25, 2010 – Zhaikmunai L.P. (LSE:ZKM) (‘Zhaikmunai’), the independent oil and gas enterprise operating in northwestern Kazakhstan, recently made its first shipment of crude oil through the Black Sea port of Feodosia (Ukraine).
A total of 233,444 bbl was transported by rail to Feodosia on a Free on Board sale (FOB-sale) where it was loaded on a tanker. As such the company has successfully tested a new destination that it can use for its future crude and condensate production.
Kai-Uwe Kessel, Chief Executive Officer, commented :
“Until recently Zhaikmunai only transported its oil production towards refineries in Finland, Ukraine and Kazakhstan. We are delighted that our marketing team coordinated the shipment of almost one month’s production by rail and tanker to one of the most important ports on the Black Sea. This initiative will allow us to reach many more off-takers and as such it will improve our marketing reach and the net-backs we obtain for the company’s products.”
Bert Jordens, Investor Relations Officer
+44 (0) 1624 68 21 79
+44 (0) 20 7404 59 59
Zhaikmunai is an independent oil and gas enterprise currently engaging in the exploration and development and production of oil and gas. It is listed on the the London Stock Exchange (Ticker symbol: ZKM). Its principal producing asset is the Chinarevskoye Field located in northwestern Kazakhstan. Zhaikmunai L.L.P., a wholly-owned subsidiary of Zhaikmunai L.P., holds a 100% interest in and is the operator of the Production Sharing Agreement for the Chinarevskoye Field.
Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of the Partnership or its officers with respect to various matters. When used in this document, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should” and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements.
- Zhaikmunai Shipment to Feodosia