Karachaganak GPP project with shareholders being revised - Kazakh Energy MinistryThe project to build a gas processing plant (GPP) at the Karachaganak field with the participation of shareholders under the current production sharing agreement (PSA) is being revised, the press service of Kazakhstan's Energy Ministry said."The Energy Ministry informs that implementing the project to build a GPP at the Karachaganak field under the current PSA with the participation of the project shareholders is being revised," the ministry said.The ministry has initiated a study of alternative mechanisms to implement the project outside the agreement at the current stage, including with the involvement of national companies, the Energy Ministry said.Earlier, the Upstream publication reported that Kazakh authorities had asked companies Eni and Shell to transfer control over the gas processing project at the Karachaganak oil field to a state-owned company, specifically KazMunayGas.KazMunayGas is Kazakhstan's national operator for the exploration, production, processing, and transportation of hydrocarbons, representing the state's interests in the oil and gas sector.The Karachaganak field is one of the largest in the world. Its oil reserves amount to 1.2 billion tonnes, and gas reserves are 1.35 trillion cubic meters. Development of Karachaganak is carried out by the international consortium KPO under the PSA signed in 1997 and valid for 40 years. The consortium comprises Shell (29.25%) (through its 100% affiliate BG Karachaganak Limited), Eni (29.25%), Chevron Corp. (18%), Lukoil (MOEX: LKOH) (13.5%), and KazMunayGas (10%). (ICE ALMATY)

Fonte notizia: INTERFAX