Volkovgeology JSC disclosed a major interested-party transaction dated 24 May 2017.
The transaction was Addendum No. 4 to long-term Contract No. 178-1/15/88 dated 4 March 2015 with Semizbay-U LLP for construction of process wells and drilling of production and exploration wells at the Semizbay deposit during 2015–2019 by single-source procurement.
The addendum reduced the required scope and contract value by KZT 878,408,096.86 including VAT. The total contract value stated in the disclosure was KZT 4,147,363,410.55 including VAT.
Customer: Semizbay-U LLP. Contractor: Volkovgeology JSC. The competent body approved the transaction on 24 May 2017.