VOL. XLIV

No. 16

16-April-2001

CASPIAN

KIO To Invest $2.5Bn Over Next Two Years, Draws Criticism From Government

The Karachaganak Integrated Organization (KIO) plans to invest nearly $2.5bn in developing its oil/gas condensate field in northwest Kazakstan during 2001 and 2003, according to KIO General Director John Morrow. KIO has already invested $2.6bn in Karachaganak, but it has recently come under government criticism for failing to employ enough Kazak workers and to purchase materials...