American International signs gas sales agreement

Published November 2nd, 2000 - 02:00 GMT

American International Petroleum Corp. announced its wholly-owned subsidiary, American International Kazakhstan, signed a Framework Agreement, for an initial 15 year term, to deliver daily up to 200 MCF (million cubic feet) of gas to ZAO Kaztransgaz from its 100 percent owned License 1551 in southwestern Kazakhstan.  


License 1551, the Shagyrly-Shomyshty field, has technically proved reserves of 604 BCF (billion cubic feet) of gas and approximately 1.2 TCF (trillion cubic feet) of gas in place as estimated by independent third parties. The maximum daily production capacity of the field is expected at 350 MCF per day.  


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