Middle East Economic Survey

VOL. LIII

No 35

30-Aug-2010

CASPIAN

KMG EP Announces Compromise Over Turgai Petroleum Ownership

KasMunaiGas Exploration Production (KMG EP), the exploration and production (E&P) arm of state-owned KazMunaiGaz (KMG), announced on 20 August that it had reached a compromise with Russias Lukoil over the ownership of Turgai Petroleum, a 50:50 joint venture between Russias Lukoil and PetroKazakhstan. The dispute dates back to 2005 when PetroKazakhstan, in which Chinas...