Kazakhs to Block Karachaganak Expansion Unless State Gets Stake
Thursday 19 May 2011
Kazakhstan will approve the next expansion phase of an oilfield project led by BG Group Plc (BG/) and Eni SpA (ENI) only after the partners agree on giving the government a stake, Oil Minister Sauat Mynbayev said. The Karachaganak project is the only major oil producer in Kazakhstan without state participation, and the government has delayed approving the capital spending that the partners proposed for the third phase.
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