SAPE, the company that manages the stakes of the Romanian state in energy companies, said that it will resume the talks with oil company KazMunayGas International (KMGI), the former Rompetrol Group, on setting up the Romanian-Kazakh energy investment fund.
In 2014, the Government approved a memorandum according to which it agreed to sell 26.7 % stake in Romanian oil company Rompetrol Rafinare to Kazakh KMG International for some 200 million dollars, while keeping the remaining 18 % stake in its possession. At the same time, KMG was obliged to establish one billion euros worth investment fund which would finance various energy related projects in Romania and in which the state will also hold a minority stake.
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Tags: investment, Kazakhstan, KMGI, Romania, Rompetrol