Kazakhstan in talks to buy stake in Karachaganak gas field.

By bne IntelliNews April 27, 2010
The Kazakh authorities are in talks to buy a stake in Karachaganak Petroleum Operating (KPO), the Italian newspaper Il Sole 24 Ore has reported without citing its source. The talks are being held in London, but so far there was no progress in allowing Kazakhstan to enter the consortium. The representatives of KPO declined to comment. To remind you, KPO comprises Eni, BG, Chevron and LUKoil.

Intellinews comment: Karachaganak is the only major oil and gas filed in Kazakhstan in which the national state-owned holding KazMunayGas has no stake. The Kazakh authorities as well as the company indicated earlier this year that they are interested in getting a shareholding in the consortium. Moreover, Astana put pressure on the consortium in past few months. Thus, the information published by the Italian newspaper is not a surprise.

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