Kazakhstan entitled to buy shares of ConocoPhillips in Kashagan first.

By bne IntelliNews May 31, 2011
If the case that ConocoPhillips sells its shares in the Kashagan, Kazakhstan has the priority right to purchase the shares, General Manager of KazMunaiGas, Askar Balzhanov, said. Balzhanov explained that there is a shareholders' agreement that gives KMG the priority right to buy belongs to the shareholders of the project. It was underlined that only the North-Caspian project is considered in that respect (where the share of ConocoPhillips is 8.4%). In recent years some media outlets reported about a possible withdrawal ConocoPhillips from the problematic project. Situated in the northern part of the Caspian Sea, Kashagan filed is proclaimed the world's greatest offshore oil field.

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