Italian group and partners to build 460 km pipeline to Caspian Sea

Jun 21, 1999 02:00 AM

Italy's Ente Nazionale Idrocarburi (ENI) and its partners British Gas, Texaco and LUKoil will build a 460 km pipeline to the Caspian Sea, with an initial capacity of 7 mm tpy.
ENI said that it had signed a memorandum of understanding with the Kazakhstan government for building the pipeline, which will cost around $ 280 mm.
The pipeline, for oil and condensates, will start at Bolshoy Chagan, some 190 km from the Karachagank field, and end at Atyrau, from where it will be linked to the Caspian Pipeline Consortium.
Production from the Karachagank field is expected to eventually increase from 24 mm barrels of liquids a year to 71 mm, ENI said.

The Italian group, through subsidiary Agip Karachagank BV, is co-operator with British Gas of the field. ENI and BG each own 32.5 % while Texaco owns 20 % and LUKoil 15 %.

Source: AP via Newspage
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