Kazakhstan Plans Talks to Increase Its Share in Oil Production Sharing Agreements

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