News 2013#1 (79), February 2013
KazMunayGas will acquire a 50 % interest in the charter capital of the oil and gas company Central being formed in Russia, writes Rosbalt. As a result, Kazakhstan plans to join LUKOIL and Gazprom and under a joint venture to develop the Central field on the Caspian Sea shelf. KazMunayGas has already addressed to the Federal Antimonopoly Service of the Russian Federation to approve the deal on acquiring a share in JV.
As wrote Izvestia, the Central field was a subject of disputes till 2002 when the heads of two countries Vladimir Putin and Nursultan Nazarbayev agreed that the field will be developed on the terms of PSA. The intention to develop the field on the terms of PSA is kept by the sides till February of this year when it was decided to simplify the procedure by forming a JV and issuing a license for exploration and production.
“The Central field is one of eight fields of LUKOIL on the Caspian Sea. The forecasted reserves of oil and condensate at this field come to 685 million barrels and gas reserves – to 37 billion cubic meters. The Caspian Sea is one of the regions due to which LUKOIL intends to considerably increase the volumes of produced hydrocarbons in future. The company is already engaged in the development of the fields named after Коrchagin and Filanovsky. Through a JV, LUKOIL can develop more rapidly the available resources of the Caspian Sea.