The Minister of Energy of the Republic of Kazakhstan Kanat Bozumbayev, summing up the industry for 2018, spoke about reaching agreements with foreign investors to recover damages by $ 1.1 billion (2019-2021) and increasing the share of the republic, ortcom.kz reports.
“On the Karachaganak project this year we signed an agreement on the issue of disagreements regarding the division of products in favor of the republic, initiated in 2015,” said the Minister of Energy of Kazakhstan Kanat Bozumbayev
According to him, the basic agreement was reached on compensation for losses of $ 1.1 billion (2019-2021) and an increase in the share of the republic until 2037 by $ 360 million with an oil price of $ 60 / barrel.
In addition, in the next 5 years, $ 5 billion will be invested in expansion, drilling of new wells to maintain a high level of production at Karachaganak for a long-term period.
