(RTTNews) - Delixy Holdings Ltd. (DLXY), an oil-related products trading company, on Wednesday announced that it entered into a non-binding letter of intent with Caog S.a.r.l. to acquire or merge up to 48% of Tarbagatay Munay, an oil and gas project operator in Kazakhstan. The proposed deal is subject to due diligence, a final agreement, board approval and required government and regulatory approvals in Kazakhstan. The company said the deal could involve buying part or all of Tarbagatay Munay or combining some of the project's assets and operations. The Sarybulak Oil Field project is located in East Kazakhstan, about 90 kilometers from the China-Kazakhstan border.
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