Kazakhstan buys into Karachaganak field

Published: December 16, 2011

Kazakhstan bought a 10 % stake in one of the country’s largest oil projects. The $1 billion deal marks the culmination of the Central Asian nation’s drive to secure a share in the Karachaganak project — the country’s only major energy concession in which the government had no stake.
Karachaganak Petroleum Operating BV is led by BG Group and Eni, which will see their 32.5 %stakes diluted.

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