Investing.com -- Kazakhstan’s energy ministry announced on Wednesday it has terminated plans for a gas processing plant at the Karachaganak field that would have involved the field’s current operators.
The ministry stated it is now looking to engage domestic companies in the project instead, though no further details were provided about this new direction.
The Karachaganak field is currently operated by the Karachaganak Petroleum Operating (KPO) consortium. This consortium includes several international energy companies with varying ownership stakes: Italy’s Eni and Shell each hold 29.25%, American oil giant Chevron (NYSE: CVX ) owns 18%, Russian Lukoil has a 13.5% share, and Kazakhstan’s state-owned KazMunayGaz holds the remaining 10%.
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