Kazakhstan Plans Talks to Increase Its Share in Oil Production Sharing Agreements
Photo: KMG press service
Kazakhstan plans to hold consultations with international partners to increase its share in Production Sharing Agreements (PSA), Energy Minister Almassadam Satkaliyev announced at a briefing, reports Orda.kz.
The main focus is on the Tengiz project (TCO), where Kazakhstan's partners are Chevron, ExxonMobil, and LUKOIL.
Instructions have been given to conduct consultations with consortium participants within the framework of international agreements. When we are ready for negotiations, the government will form an agenda and voice its requirements, including a possible increase in Kazakhstan's share, noted Satkaliyev.
The Minister added that official negotiations should begin following agreement terms within the next year or two.
President Qasym-Jomart Toqayev previously instructed the government to review foreign subsoil use contracts.
The government must intensify negotiations on extending Production Sharing Agreements for the Tengiz, Karachaganak, and Kashagan fields.
Original Author: Artom Volkov
Latest news
- Russian Fighter Jet Makes Emergency Landing in Atyrau
- Kazakhstan’s Banks See First Early-Year Profit Drop Since the Pandemic
- Cyclone to Bring Snow, Rain, and Blizzards to Kazakhstan
- Investments, Aviation and Healthcare: Tokayev Holds Series of Meetings With U.S. Company Chiefs in Washington
- Kazakhstan Ready to Send Military to Gaza — Results of the «Board of Peace»
- Ex-Prince Who Sold a Mansion to Kulibayev Arrested in Epstein Case
- Almaty Will Not Build New Sports Facilities for the 2029 Asian Games
- Earthquake Recorded in Kazakhstan in 2020 May Have Been China’s Nuclear Test
- Kazakhstan May Move Constitution Day to March 15
- Kazakhstan’s Cinema Market: Kazakhfilm Fined, Kinopark Under Antitrust Scrutiny
- Kazakhstan Extradites Tax Fraud Suspect from Kyrgyzstan
- New 5.3-km Hiking Trail to Big Almaty Lake Planned for 2026
- Kazakhstan Introduces New Rules for Parcels Ordered from Foreign Marketplaces
- FlyArystan Appoints Executive from European Airline as CEO
- Freedom Bank Cancels Planned Kyrgyz Subsidiary After Shareholder Vote
- Kazakhstan’s Industry Sees Early-Year Slowdown
- Organizer of Multi-Billion-Tenge Online Casino Operation Brought to Kazakhstan
- Parents Oppose a Complete Ban on Smartphones in Kazakhstan’s Schools
- Tokayev and Japarov Exchange Support Amid Constitutional Reforms and Political Resignations
- Oskemen Recorded Over 1,000 Exceedances of Harmful Air Pollutants
