Middle East Economic Survey

VOL. LIV

No 51

19-Dec-2011

CASPIAN

KMG Secures Entry Into Karachaganak Consortium

After two years of pushing, Kazakh state firm KazMunaiGaz (KMG) on 14 December secured a 10% equity stake in the Karachaganak Petroleum Operating (KPO) consortium, lead by Britains BG and Italys Eni. KPO is Kazakhstans largest natural gas and condensate producer, with output of 15 bcm/year and 220,000 b/d. The agreement will open the way for Phase 3 of the fields development, which...