PETROLEUM. Analytical journal. New projects, fields’ development, production, processing and transportation of oil and gas, presentation of the companies, statistics on the production of hydrocarbons, monitoring of investment legislation.

© Igor Ivakhnenko, RusEnergy, specifically for the Petroleum

 

The Kazakhstan authorities have gained an important political victory. They persuaded the world's leading oil companies to consent to reduce their appetites in the project envisaging the extraction of no less than four billion tons of oil equivalent. The new Kazakhstan political technologies can be applied also to other present and future oil projects.

 

 

Almost friendly entry

 

Kazakhstan succeeded in its battle for the entry into the largest regional project, according to the oil reserves (see Table 1), which is operated by the international North-Caspian Consortium (NCC). The state will purchase no less than 2.77% of interest by paying approximately $300 million for it. The final conditions of the purchase are not coordinated yet, but it is already clear that the bid will take place. On the background of the contradicting public statements of the Kazakhstan authorities and some shareholders of NCC, the evident signs of Astana's victory have been recently indicated.