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December 2008 |
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As part of the company’s long-term development strategy Lancaster Petroleum has listed its shares on the Kazakhstan Stock Exchange. By decision of the Exchange Council of Kazakhstan Stock Exchange (KASE) of 27 November 2008, common shares of Lancaster Petroleum are included into KASE official list under the third category.
The decision to list on KASE has been approved by the Board of Directors of Lancaster Petroleum as a step to attract additional resources in order to facilitate further development of the company. Established in 2001, this Kazakh oil company has already made some key achievements such as gaining experience in developing oil fields, increasing oil production, as well as creating and putting in place an efficient management system which complies with international standards and transparency. The company’s long-term success is largely defined by its unique oil fields which have great potential for further development and production. Despite the achieved results, the company continues to seek new opportunities for further growth.
Lancaster Petroleum has informed of changes in the Board of Directors and election of Andrey Shovkoplyas as President. Mr. Shovkoplyas has replaced Frank Hayes whose authorities were early terminated. The BOD of Lancaster Petroleum has been now formed comprising B. Kaniyev (Chairman of the Board of Directors), N. Kapparov, D. Spada (Independent Director), A. Shovkolpyas, and A. Barunin (Independent Director).
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November 2008 |
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Kazakhstan’s solar project is set to move forward as Lancaster Group’s KUN Renewables LLP is developing a $390 million initiative on construction of a polysilicon plant in Astana.
Initiated by Lancaster Group, the solar project is a significant step forward in the development of the Kazakhstan’s photovoltaic sector. The Group’s KUN Renewables LLP is building a solar grade polysilicon plant in the Astana industrial zone. The two-phase project involves construction of an integrated plant to produce 2500 MT/a polysilicon which will be 2.5% of world production in 2010. The second phase of the project is designed to produce mono and multi-crystalline ingots as well as 250 MWp wafer slicing with export markets as the main target.
Used in solar energy applications, polysilicon is currently a highly sought-after product. Nearly 90% of world photovoltaic production is based on silicon wafer which comes from polysilicon. With a growing demand for solar energy, there is a shortage of polysilicon in the marketplace. The designed plant will produce polysilicon with competitive manufacturing cost.
Production of polysilicon will involve the use of environmentally safe Siemens technology and energy efficient reactor technique. KUN Renewables has already carried out an environment impact assessment and held public hearing to present the results earlier this year. The company has also signed a $200 million long-term contract with AES Group which will supply electric power in capacity of 50 MW for the period of 2009 – 2021. And with financing coming from the state-owned Development Bank of Kazakhstan and Kazakhstan Investment Fund, the project is set to go ahead to the full implementation stage. Strong leading efforts of the project’s management team is a strategic mix represented by Canada, Japan and Kazakhstan. The company is currently developing relations with key players from Germany, UK, India and Singapore.
Kazakhstan has a number of advantages for the polysylicon production and the development of the photovoltaic sector. The country has 95M tons of quartz deposits ranking behind Brazil and Madagascar. Land grants and corporate tax holiday, competitive electricity rates, strong government support are other benefits that provide favourable conditions for the development of the country’s renewable energy sector. The industry is rapidly increasing and offers a significant potential for investment opportunities.
KUN Renewables project is included into the national “30 Corporate Leaders” programme and is realized within the Kazakhstan Industrial and Innovation Development Strategy for 2003-2015.
Syrymbet and Lancaster Group participated in the Metal Bulletin’s Kazakh Metals and Mining conference held on 10-12 November in Almaty. With vast resources, Kazakhstan’s mineral and metal industry is now on the rise offering great potential for investment opportunities. Organized by Metal Bulletin Events, the conference was perfectly timed to analyse the key developments in the region and bring together senior professionals who are actively working in the region, or looking to work with the region.
Lancaster Group ’s president, Kassym Abzhanov took part in the finance, investment and licensing session with a detailed presentation on the Group’s experience as well as future plans in attracting venture capitalists and investment funds to its projects. Syrymbet was presented in the operations and modernization session, where Bakhyt Ospanov, CEO of Syrymbet, talked about the tin smelting project, the project’s reserves, status and the goal.
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October 2008 |
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Askar Amrin has joined Lancaster Group as a new Member of the Board of Directors.
The new appointment comes with introduction of new changes in the organizational structure of the company and is incorporated as an additional position. Before joining Lancaster Invest as Vice President in 2007, Askar Amrin had served as Vice Minister of Finance of the Republic of Kazakhstan.
Lancaster Petroleum participated in the 16th Kazakhstan international oil and gas exhibition and conference KIOGE-2008, held on 7-10 October in Almaty, Kazakhstan. Represented at the event for the first time, Lancaster Petroleum has attracted a lot of interest from the exhibition visitors, participants, managers and directors of local and foreign companies. The four days work at the exhibition involved participation of the president of Lancaster Group, human resources director, commercial and PR managers. Presentation of the company, attracting highly qualified specialists and potential contractors were key objectives of the successful participation of the company in this major international annual event.
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September 2008 |
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ERSAI has celebrated its 5th anniversary of establishment coincided with the 35th anniversary of Karakiya district. The two day celebration started on the 26th of September with a special lunch organized by the company management for local staff, employees and guests. The celebration continued the following day in Kuryk town on the Caspian Sea shore to mark the 35th anniversary of establishment of Karakiya District. ERSAI management congratulated local residents and its employees who received presents and letters of gratitude for their hard work and valuable contribution to the development of the Yard activities.
Lancaster Group has announced of the decision of the Board of Directors on 30 September 2008 to acquire 30% shares of RTS Decaux from Lancaster Invest JSC.
Lancaster Group co-sponsored and participated in Kazakhstan Investment Forum: The Gateway to Investing in Central Asia, on 18-19 September in New York. Organized by Institutional Investor with support of the Government of Kazakhstan and the Embassy of the Republic of Kazakhstan in the USA, the event brings together over 300 international, regional and domestic investors with key financial intermediaries, high-profile government officials and leading issuers. The Forum will highlight the important role Kazakhstan is playing as an investment destination and center of finance for the Central Asian region, and will provide a platform for the leaders of the region’s businesses to meet and discuss how best to access the capital markets for their investment and financing needs.
Four Seasons Bora Bora Hotel has now opened on the island of Tahiti, French Polynesia. The hotel offers 121 spacious hideaways within 100 over-water bungalows and 7 beachfront villas overlooking the Bora Bora lagoon and stunning views of Mount Otemanu. One of the finest resort destinations in French Polynesia, Alatau Hospitality acquired 50% interest in this project in September 2007.
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August 2008 |
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On 26 August ERSAI Caspian Contractor announced the arrival of Float Hotel Board ERSAI-400 at its Yard in Kuryk. The vessel is fully equipped to accommodate 400 people. The floatel has a length of 102.8 m and a width of 16.20 m. Accommodation facilities include a mess room for 200 persons, five offices and a helideck. The flotel was mobilized to the Caspian Sea following conversion at San Giorgio port in Genoa, Italy. ERSAI-400 will join the existing ERSAI fleet currently consisted of specialized vessels: Construction Barge ERSAI-1 and recently acquired Crane Barge ERSAI-2. The fleet will be used for the Hook-up and Commissioning activities at Kashagan field.
Prime Minister of the Republic of Kazakhstan, Karim Masimov visited ERSAI Caspian Yard on 9 August during his trip to the Mangystau region. An external government meeting chaired by the Prime Minister discussed realization of the State Program for the Development of Kazakhstan Sector of the Caspian Sea; the onshore and offshore infrastructure development. Reports have been presented by the Minister of Energy and Mineral resources, President of JSC National Company “KazMunaiGas” (KMG), Akim of Mangystau region and Deputy Akim of Atyrau region.
Later on August 16, ERSAI Caspian Yard was visited by the U.S. Ambassador to Kazakhstan, John Ordway during his trip to Mangystau region. “I was impressed by the size, volume, and scope of the work you have accomplished” said Mr. Ordway after having a tour to the ERSAI facilities.
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July 2008 |
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Lancaster Petroleum held its next public hearings on the environment impact assessment for Kokzhide field (Upper Permian) pilot production project in Sarkol, Aktobe region. Attended by representatives of local administration and environmental bodies, the public hearings have generated positive results. “The Pilot production project will be implemented in strict compliance with RK Legislation and standards. The Kokzhide Field Upper Permian is 2,8 km away from northern sands. The results of environmental monitoring are in the norm”, reported Marta Abir, environmental engineer of LLP CaspiMunaiGas.
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Nurlan Kapparov has been appointed Minister of Environment Protection of the Republic of Kazakhstan
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Lancaster Group’s GazMunaiOnim LLP has successfully closed sale of 100% of shares in JSC Karpovskiy Severnyi...
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