* Eyeing targets at home and abroad
* Expects provision is enough to settle tax claim
* No plans for cooperation with China's CIC yet
By Tom Bergin
LONDON, Oct 12 (Reuters) -Kazakh oil producer KazMunaiGas Exploration Production (KMG EP) said it hoped to buy two local companies in the near future and was eyeing acquisitions internationally, including in the North Sea. Chief Executive Kenzhebek Ibrashev said his London-listed firm, which is majority-owned by Kazakhstan's state oil and gas company KazMunaiGas, had entered a cooperation agreement with British utility BG Group to look for opportunities.
"We're also looking at some of the opportunities in the North Sea," he told Reuters in an interview, speaking through an interpreter.
"Europe, including the North Sea, is a totally new region for us. I think that we will take our time," he said, adding that it was too early to say when a deal would be concluded.
Ibrashev would not say how much KMG EP planned to spend but noted that when examining opportunities outside Kazakhstan, the company generally looked for larger reserves than it was prepared to consider buying inside Kazakhstan.
KMG EP is eyeing a number of acquisitions in its home market, including Kazakhoil Aktobe and Kazturkmunai, which together produce around 20,000 barrels of crude oil per day, KMG EP has previously said.
Ibrashev said he hoped for a deal to buy the two units from its parent "in the near future".
KMG EP also hopes to begin talks to buy the 50 percent stake in Kazakh oil producer MangistauMunaiGas (MMG), which KazMunaiGas earlier this year agreed to purchase together with China's CNPC for $3.3 billion, as soon as that deal closes.
KMG EP says its close relationship with the state oil firm gives it a flow of attractively priced acquisition opportunities.
KMG EP is also looking at acquisitions in Turkmenistan, Russia and North Africa.
CHINESE PARTNER
Chinese sovereign wealth fund China Investment Corp (CIC) said on Sept 30 it paid $939 million for an 11 percent stake in KMG EP, as China seeks to acquire assets to meet its fast-growing economy's energy needs.
Ibrashev said KMG EP had not had a chance to meet with CIC to discuss what, if any, cooperation the Chinese group was interested in.
There are no plans to give CIC a board seat, even if it lifts its shareholding further, despite some market speculation to that effect.
Last month, KMG EP said it had received a 32 billion Kazakh tenge ($212.3 million) claim for taxes and related penalties. It disputes the claim but has taken a 9 billion tenge provision.
Some analysts said the final settlement could be well above the provision but Ibrashev said he believed it was sufficient.
KMG EP has lodged a protest with the finance ministry and it expected a response next month.
"Should it be necessary we will also go to the court," he said, adding that it could take years to reach a settlement.
Ibrashev said the company had not decided yet on whether it would pay a special dividend for this year. (Editing by David Holmes and Lin Noueihed)