Kazakhstan's national oil and gas company, Kazmunaygaz, wants to acquire up to 10 percent of the Karachaganak consortium, the chair of the Kazmunaygaz board of directors, Timur Kulibayev, told journalists Thursday during an investment summit in Almaty.
"Kazmunaygaz would like to acquire up to 10 percent in the Karachaganak project", he said.
Kazmunaygaz President Kairgeldy Kabyldin confirmed the information, but was unable to say how much such an acquisition might cost.
Karachaganak Petroleum Operating (KPO) is a consortium of companies united together to execute the Karachaganak project. The consortium includes BG Group and Eni, which each have a 32.5 percent stake, Chevron with 20 percent and LUKOIL with 15 percent. the consortium is operating one of the biggest oil and gas condensate fields in the world and works under a PSA signed with the government of Kazakhstan in November 1997.
Under the terms of the agreement, the consortium is to run the project until 2038 up to which time no new taxes or duties are to be imposed on it.
Oil & Gas Eurasia
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