Kazakhstan, Astana, Feb. 23 / Trend , K.Konirova/
The global financial crisis has caused delays in the third development phase of the Karachaganak gas field, Kazakh Energy and Natural Resources Minister Sauat Minbayev said on Feb. 23.
"The BG and Eni companies appealed to the Kazakh government to postpone the thrid phase due to the crisis, but a final decision will be made in the second half of this year," Minbayev said.
Karachaganak in Western Kazakhstan is one of the world's richest fields. Its oil reserves amount to 1.2 billion tons and gas - 1.3 billion tons. The Karachaganak Petroleum Operating Consortium develops the field under a production sharing agreement signed in 1998. The consortium includes: Italian Eni and British BG (32.5 percent each), Chevron (20 percent) and LUKoil (15 percent).
The third development phase of the Karachaganak project requires need over $4 billion in investment.
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