Kazakhstan hopes to end Karachaganak dispute in H1.

By bne IntelliNews April 22, 2011
Kazakhstan hopes to end its protracted dispute with investors in Karachaganak gas field by the end of H1, oil and gas minister Sauat Mynbayev has said. He confirmed that the talks are underway between the Karachaganak Petroleum Operating consortium and the Kazakh government and noted that each of the sides clearly understands what it wants. KPO did not comment the ministers statement. To remind you, Kazakhstan wants to get a stake in Karachaganak as it is the only field in the country in which national oil and gas holding KazMunayGas has no stake. The authorities charged the consortium for tax violation and breaching ecological laws as well as overstating costs in order to put a pressure on the consortium. KPO members are: Eni (32.5%), BG (32.5%), Chevron (20%) and LUKoil (15%).

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