Kazakhstan based oil and gas exploration and production company Caspian Sunrise is acquiring drilling barge rig Caspian Explorer for $25m.
for $25m.Caspian Sunrise will pay for the acquisition with the issuing of 160,256,410 new ordinary shares to a member of the Oraziman family, who owns the vessel, in a move which will see the stake of the Oraziman family in Caspian Sunrise rise to 44.2%.
Clive Carver, executive chairman of Caspian Sunrise, commented: “Acquiring the Caspian Explorer will allow the Company to participate in the further development of the Northern Caspian Sea, either directly via participation in an exploration consortium, or indirectly by hiring the vessel to others active in the region.”
