Kazakhstan eyes stake in Karachaganak field
Kazakh Prime Minister Karim Massimov announced his country was attempting to secure a stake in the massive Karachaganak oil and gas field amid tax disputes with consortium members.
The government in Astana said it was negotiating with a group led by US, British, Russian and Italian energy giants to buy up shares in Karachaganak.
Karachaganak is the only large Kazakhstan oil and gas field which in which the government doesn’t have a stake. The field holds more than 1.2 billion metric tons of oil and condensate and over 1.35 trillion cubic meters of gas, according to the consortium’s Web site. The Kazakh government doubled its stake in Kashagan—set to become Kazakhstan’s largest oil-producing field—to 16.8% in 2008, following a dispute with the ENI-led consortium over costs and production delays. KazMunaiGas has a 20% stake in Chevron-led Tengizchevroil, Kazakhstan’s largest producing oil field.
| Concerned URL | http://www.neurope.eu/articles/Kazakhstan-eyes-stake-in-Karachaganak-field/98335.php [] |
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| Source of information | New Europe |
| Release date | 12/01/2010 |
| Contributor | Elena Nikitina |