State to take 10% share in Karachaganak for $1 billion

摘要

Kazakhstan's state-owned KazMunaiGaz is to take a 10% stake in the giant Karachaganak gas and condensate field for $1 billion following an accord signed December 14, paving the way for the foreign investors to expand the project. Each partner in the Karachaganak Petroleum Operating consortium is to transfer a tenth of its share to KazMunaiGaz and both sides are to drop all claims against each other.