Karachaganak Settlement Far From Imminent, As Negotiations Grind On

The head of Kazakhstan's Samruk-Kazyna sovereign wealth fund, Timur Kulibayev, told reporters in Astana on October 5 2011 that the state would pay US$700mn-1.1bn for a 10% stake in the Karachaganak project. Kulibayev, the son-in-law of Kazakh president Nursultan Nazarbayev, is known to hold significant sway over the country's hydrocarbons

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