KazMunayGas reviews design solutions for Karachaganak gas plant, awaits partners' responseKazakhstan’s National Company KazMunayGas (KMG) has reviewed design options for the construction of a gas processing plant (GPP) at the Karachaganak field and is now awaiting a decision from its partners in Karachaganak Petroleum Operating B.V. (KPO), KMG CEO Askhat Khasenov said."The project is being revisited, and negotiations are ongoing among shareholders and with the government. All possible economic options are being considered. (…) All design solutions are ready, and as a stakeholder, we are now awaiting a final decision from our partners," Khasenov told reporters on the sidelines of the Oil Summit in the Republic of Tatarstan, Russia, on Friday.He noted that no strict deadline had been set for the partners' response."We all expect this process to move rather quickly. Since all design solutions are ready, I believe our partners will soon announce their decision," he added.On July 2, Kazakhstan’s Energy Ministry announced that the Karachaganak GPP project would be revisited with the stakeholders within the framework of the existing production-sharing agreement (PSA).The ministry initiated a study of alternative mechanisms to implement the project outside the agreement at the current stage, including with the involvement of national companies.Earlier, the Upstream publication reported that Kazakh authorities had asked 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 (13.5%), and KazMunayGas (10%). (ICE ALMATY)

Fonte notizia: INTERFAX