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
- High Rates Win Over Consumption As Kazakhstanis Bring More Money To Banks
- Illegal Miners Damage Protected Forest Reserve Near Semey
- Recruitment And Diplomatic Silence: Inside A Webcam Network Allegedly Involving Kazakhstani Women In Vietnam
- Kazakhstan Not Yet Ready To Give Sign Language Official Status
- Kazakhstan Receives Cable for Caspian Internet Route
- Kazakhstan’s Ruling Party Merges Into New Pro-Presidential Party
- Truck Traffic Returns to Kazakh-Russian Border
- Kazakhstani Citizen Reported Missing in Illinois
- Kazakhstan’s Ak Zhol Party Leader Steps Down After 15 Years
- Foreigner Severely Burned After Allegedly Trying To Set Fire To Park In Kazakhstan
- Astana Makes Public Transport Easier For Tourists
- Qatari Owners Paid Hundreds Of Millions To Managers Of Bank Bought From Kazakhstan
- Court Says Almaty Unlawfully Blocked Gas-Powered Cars From Shymbulak Road
- Kazakhstan’s Fuel Sales To Be Tracked In Real Time
- Kazakhstan’s Oil-Rich West Is Struggling To Create Jobs
- Foreigners Illegally Received Kazakh ID Numbers Through Astana Officials
- Kazakh Officials Tried To Hand Protected Lakes To Private Owners
- Recruited Online And Accused Of Promoting Terrorism: KNB Reveals New Case Details
- China To Build New Gas Processing Plant At Kashagan
- Kazakhstan Plans Another 20 Million Tons Of Coal Consumption
