Delixy Eyes Major Stake in Kazakh Oil Field with Up to 48% Acquisition

Delixy Holdings Limited has signed a non-binding letter of intent to acquire up to 48% of Tarbagatay Munay, operator of the Sarybulak Oil Field in East Kazakhstan. The project has delivered nearly 4 billion cubic meters of natural gas to China over more than thirteen years via a self-owned cross-border pipeline.

The Sarybulak Project holds approximately 100 million metric tons of approved original oil in place and full oil export rights, making it an attractive asset for Delixy. The company is considering either acquiring part or all of Tarbagatay Munay's equity to obtain operating, profit, and development rights.

The completion of any transaction remains subject to due diligence, definitive agreements, multiple governmental and regulatory approvals, and consents from other Tarbagatay Munay shareholders. A non-binding letter of intent does not guarantee a definitive agreement will be reached.