Volkovgeology JSC disclosed a major interested-party transaction dated 24 May 2017.
The transaction was Addendum No. 3 to long-term Contract No. 685/14 (597-1) dated 4 December 2014 with Semizbay-U LLP for construction of process wells and drilling of production and exploration wells at the Irkol deposit during 2015–2019 by single-source procurement.
The addendum reduced the required scope and contract value by KZT 583,865,524.13 including VAT. The total contract value stated in the disclosure was KZT 5,904,539,792.40 including VAT.
Customer: Semizbay-U LLP. Contractor: Volkovgeology JSC. The competent body approved the transaction on 24 May 2017.