Kazakhstan will probably freeze the extension of the Karachaganak project in its third stage, in case of further disputes between the operator of the project and the government, the Kazakh minister of oil and gas Sauat Mynbayev stated, RIA Novovsti reports.
Karachaganak is one of the richest oil and gas deposits in the world. 49% of all gas and 18% of all the oil in Kazakhstan are extracted from there. Karachaganak Petroleum Operating is a consortium of companies, united in order to implement the project. The companies are BP Group, Eni and LUKOIL.
Kazakhstan has serious disputes with the companies, as the republic has tried to benefit from the project. The government accused the consortium of breaking law, but the companies insist that they follow all norms.
Mynbayev stated that if all the problems are not to be solved Kazakhstan will freeze the third stage of the project.
