Kazakhstan sues consortium
Kazakhstan Karachaganak rig
According to news reports, the dispute centres on the project’s profits, which are split between the government and the companies overseeing the development. Lukoil, which holds the remaining 13.5% stake, said talks aimed at settling on a formula are currently underway.
The Karachaganak field covers an area of more than 280 km and its hydrocarbons initially in place are estimated at 1.61 tcm (57 tcf) and 12 billion barrels of condensate. While the matter has not gone to court yet, Lukoil’s exposure is estimated at USD 214 million.
For more news and features on the oil and gas industry in Kazakhstan, click here.
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