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Kazakhstan: China’s MIE Holdings to buy Emir Oil

Friday 3 June 2011

Shareholders of BMB Munai Inc., Almaty, Kazakhstan, approved the sale of BMB’s interests in its wholly owned operating subsidiary, Emir Oil LLP, to a subsidiary of MIE Holdings Corp. Closing is set for third quarter 2011.

MIE Holdings and subsidiaries are among the leading independent upstream oil companies that operate onshore in the People’s Republic of China as measured by gross production under production sharing contracts. MIE Holdings operates Daan, Moliqing, and Miao-3 oil fields in the Songliao basin, China’s most productive oil basin, under three production sharing contracts with PetroChina Ltd.

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