Chinese CNPC is among the shareholders of the North Caspian Operating Company (NOC) development the Kashagan field, reported Interfax-Kazakhstan.
At present the shareholders of the consortium are the following: AgipCaspian Sea B.V. — 16.81%, ExxonMobil Kazakhstan Inc. — 16.81%, Shell Kazakhstan Development B.V. — 16.81%, Total EP Kazakhstan — 16.81%, Inpex NorthCaspian Sea Ltd. — 7.56%, CNPC Kazakhstan B.V. – 8.33%. Through KMG Kashagan B.V. Kazakhstan has become the biggest partner of the NCOC – KMG Kashagan B.V. share increased from 16.81% to 16.88%.
On October 31, 2013 ConocoPhillips closed the deal on sale of its 8.4% share in development of the Kashagan field to the Kazakhstan national company KazMunaiGas (KMG) for approximately $5.4 billion.
KMG reported that the national company and its daughter company KMG Kashagan B.V. have concluded a purchase-sale contract, according to which the share purchased by KMG from ConocoPhillips will be bought by KMG Kashagan B.V. In addition, KMG Kashagan B.V. has concluded a contract on sale of 8.33% share in the PSA to CNPC Kazakhstan B.V. company.
$43 billion has been already invested into the project.—0—
Economics
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