Zhaikmunai LP (LSE:ZKM) has reported that it will acquire the entire subsoil use rights for Rostoshinskoye, Darjinskoye and Yujno-Gremyachenskoe oil & gas fields in Kazakhstan.

As quoted in the press release:

Zhaikmunai has agreed to pay the current owners a total of US$ 16 million for the three fields. The fields, Rostoshinskoye, Darjinskoye and Yujno-Gremyachenskoe, are located in the Pre-Caspian basin to thenorthwest of Uralsk, approximately 90 kilometres from the Chinarovskoye field.

Zhaikmunai’s CEO, Kai-Uwe Kessel commented:

This is a great moment for Zhaikmunai as we move from a single field asset to a multi-field oil & gas company.

Click here to read the Zhaikmunai LP (LSE:ZKM) press release.