Kazakhstan wants to sell 25 % of Kurmangazy to Total

Feb 05, 2004 01:00 AM

Kazakhstan wants to sell 25 % of its 50 % share in the Kurmangazy oil field in the Kazakh sector of the Caspian Sea to France's Total, Prime Minister Danial Akhmetov told.
"We want the French Total company to be a strategic partner of Kazakhstan in Kurmangazy. We think the share of Total will reach 25 %. The price will be commercial," he said. "We will not just sell an interest. We will place many conditions and they will not be easy even for such a huge company as Total," he said.

Kazakhstan and Russia agreed on the joint development of the Kurmangazy field in spring 2002. A protocol to the agreement on the Caspian's division of May 13, 2002, sets the share of Kazakhstan's KazMunaiGaz in the Kurmangazy project at 50 % and gives 25 % to Russia's Rosneft.
The protocol assigns a 25 % option to Russia's ZarubezhNeft. A working group of the Kazakh government is holding negotiations with KazMunaiGaz and Rosneft on production sharing terms in the Kurmangazy project.

Kazakhstan estimates extractable oil reserves of Kurmangazy at 0.9-1 bn tons.
Preliminary information indicates that investments may reach nearly $ 10 bn.

Source: Interfax Information Services
Market Research

The International Affairs Institute (IAI) and OCP Policy Center recently launched a new book: The Future of Natural Gas. Markets and Geopolitics.


The book is an in-depth analysis of some of the fastest moving gas markets, attempting to define the trends of a resource that will have a decisive role in shaping the global economy and modelling the geopolitical dynamics in the next decades.

Some of the top scholars in the energy sector have contributed to this volume such as Gonzalo Escribano, Director Energy and Climate Change Programme, Elcano Royal Institute, Madrid, Coby van der Linde, Director Clingendael International Energy Programme, The Hague and Houda Ben Jannet Allal, General Director Observatoire Méditerranéen de l’Energie (OME), Paris.

For only €32.50 you have your own copy of The Future of Natural Gas. Markets and Geopolitics. Click here to order now!


Upcoming Conferences
« April 2018 »
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29

Register to announce Your Event

View All Events