State-owned KMG is the central Asian nation’s third largest oil producer and has stakes in all major Kazakh projects including the giant Kashagan oil field. It is Shell’s partner in several joint ventures.
Samruk-Kazyna, the Kazakh sovereign fund, plans to float KMG next year as part of the government’s privatization program.
The fund owns a 90 percent stake in the company and Kazakhstan’s central bank holds the remaining 10 percent.
A source close to KMG said Shell has been offered the chance to buy a stake of up to 20 percent, which could include the central bank’s stake.
“The talks are under way,” the source said.
Another source, who is close to the government, said the offer was for a 10 percent stake.
“We think they (Shell) could become a strategic partner, this would increase the company’s (KMG’s) value ahead of the IPO,” the second source said.
The sources gave no estimates for the potential value of any deal.
The wealth fund is expected to retain a controlling stake in KMG but has not said what size stake will be floated.
Samruk-Kazyna forwarded questions about the Shell offer to KMG which in turn said it“cooperated and planned to cooperate with a number of international companies on different projects” but declined to provide any further comment.
Kazakhstan’s central bank could not be reached for comment on Tuesday.
Shell declined to comment on the matter. The Anglo-Dutch company has stakes in some of Kazakhstan’s biggest oil projects including Kashagan and Karachaganak as well as the Caspian Pipeline Consortium which ships Kazakh oil to the Black Sea.
Additional reporting by Ron Bousso in London; Writing by Olzhas Auyezov; Editing by Susan Fenton
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
