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ENERGY

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Times Staff and Wire Reports

Mobil Corp. to Buy Interest in Kazakhstan Oil Field: According to an announcement by Kazakhstan and Fairfax, Va.-based Mobil, Mobil will buy a 25% share in the Tengiz oil field, one of the world’s largest. Analysts say the field could yield as much as $5 billion a year in combined revenue for its owners once it reaches peak production. Kazakhstan now holds a 50% share in Tengiz, of which Mobil will buy half. Chevron Corp. in San Francisco holds the remaining 50%. The move would make Mobil a leading player in the high-stakes struggle to tap some of the world’s largest remaining oil reserves in areas of the former Soviet Union.

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