Kazakhstan demands $1.6B from developers of Karachaganak field
Baku, Azerbaijan, April 5
By Elena Kosolapova - Trend:
Kazakhstan demands $1.6 billion from the developers of Karachaganak oil and gas field, said the 2015 IFRS statement on Russia's Lukoil company, which is one of the field's shareholders.
Lukoil Overseas Karachaganak B.V., which is a Lukoil's subsidiary, involved in disputes with Kazakhstan on the issue of compensation of expenditures and the calculation of "equity index" in line with the final production sharing agreement on the Karachaganak field.
The share of Lukoil Overseas Karachaganak B.V. is $214 million in the total amount of the advanced claim.
"Currently, negotiations on the dispute's peaceful settlement are being conducted," said the report.
The Karachaganak oil and gas condensate field, located in the West Kazakhstan province, is one of the largest fields in the world. Its reserve is estimated at over 1.2 billion tons of liquid hydrocarbons and 1.3 trillion cubic meters of gas.
The field produces almost 45 percent of the total volume of gas and 16 percent of the total volume of liquid hydrocarbons produced in Kazakhstan.
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