PGNiG, Petrolinvest To Cooperate In Kazakhstan

WARSAW (Dow Jones)--Polish gas monopoly PGNiG (PGN.WA) and oil company Petrolinvest (OIL.WA) signed an agreement to cooperate on exploration projects in Kazakhstan, Petrolinvest said in a statement Wednesday. The agreement closes a dispute between the units of the two companies that resulted in a PGNiG unit filing for the bankruptcy of Petrolinvest's TOO Emba Yug Neft, the company also said. Under the deal, PGNiG may in the future acquire shares in Petrolinvest or in its assets. A PGNiG appointee will also sit on Petrolinvest's supervisory board. Source:wsj.com

 

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