Astana Finally Gains a Stake In Karachaganak In US$1bn Deal

The Kazakh government has finally claimed a stake in the massive Karachaganak gas and condensate field. Despite having had their interests in the project diluted, we believe this is a positive move for the foreign companies involved. The deal removes many of the legal uncertainties surrounding their operations in the country and opens the door to the long-delayed third phase of development, which will boost output from the field.

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