Operations
Roxi currently has interests in four exploration and production contract areas spread over three petroleum basins: the pre-Caspian basin and the Mangyshlak basin in Western Kazakhstan and the Turgai basin in Central Kazakhstan.
The assets represent a range of maturity in hydrocarbon exploitation, including established exploration, field appraisal, development, and field rehabilitation.
| Licence | Roxi Working Interest (%) | Area (sq km) | Basin |
|---|---|---|---|
| BNG | 58.41 | 1,561 | Pre-Caspian |
| Galaz | 34.22 | 180 | Turgai |
| Munaily | 58.41 | 0.69 | Pre-Caspian |
| Beibars | 50.00 | 167 | Pre-Caspian |
Roxi works with its partners to develop the assets towards either production or monetization and is constantly searching for value enhancing deals that would materially enhance the portfolio in either Kazakhstan or Central Asia.
Farm-out Agreements
In July 2009 and March 2010, Roxi concluded significant farm out agreements with Canamens, an independent oil and gas exploration and production company focused on developing hydrocarbon resources in Central Asia, for a 20% interest in Ravninnoe and a 35% interest in BNG. In December 2010 Roxi concluded a farm out agreement with LG International Corp, a Korean multinational trading company with extensive natural resource interests in return for a 40% interest in Galaz. In addition, Roxi is working to identify a farm-out partner for the Beibars block.
In October 2010 Roxi sold its entire 30% interest in Ravninnoe.
In May 2011 Canamens agreed to return to Roxi their 35% interest in BNG and assigned to Roxi US$ 24million of debt due to them from BNG LLP. Roxi agreed to provide a 1.5% royalty payment to Canamens based on the gross value of any future production arising from the BNG license area.
