Silk Energy AS was originally established in Norway in 2007. It was created specifically to review and acquire upstream assets in the Republic of Kazakhstan and to benefit from the Tax Treaty between the two countries. Silk Energy AS completed a reverse takeover of Silk Energy Limited in September 2019 and will remain a 100% subsidiary of Silk Energy Limited.
The management of Silk Energy has a history in taking undervalued assets and converting them into successful public companies and we have completed the acquisition of our first target.
Silk Energy AS has 50% of the KMG Ustyurt exploration licence in the Mangystau region of western Kazakhstan. The contract area is 6,450 square kilometres and is in the Caspian Sea transition zone and is comprised of both shallow water and onshore areas.