The Kazakh government is interested in taking further stakes in
foreign-led oil and gas projects in the country, but that won't limit growth
plans, the country's deputy energy minister, Lyassat Kiinov, said Wednesday.
This could include the Karachaganak consortium -- the only major oil project in
Kazakhstan in which the state doesn't have a stake -- which is led by BG Group
(BG.LN) and Eni SpA (E) and also owned by Chevron Corp. (CVX) and OAO Lukoil
Holdings (LKOH.RS).
"Of course we are interested," Kiinov said at an energy conference of
the Commonwealth of Independent States in
Paris
. "If
we are let in, that won't hamper growth opportunities for these projects."
Kazakhstan
has
been one of the friendliest regimes to foreign companies, but it is now
examining all the landmark oil deals it signed in the 1990s. It could mean
international energy majors will have to accept government- imposed changes. Karachaganak
and the Eni-led Kashagan, were both agreed during that period.
Companies are watching developments closely, but Kiinov said
Kazakhstan
intends to improve the investment climate.
The government is in talks with Karachaganak shareholders, but disagreements
between shareholders over the possible entry of
Kazakhstan
is
slowing progress, Kiinov said.
"Each participant has its own position," he said. "To unite them
isn't a simple task."
The Kazakh government doubled its stake in the Kashagan project--set to become
Kazakhstan
's
largest oil-producing field--to 16.8% in 2008, following a dispute with the
consortium over costs and production delays.
The Kazakh government is also seeking to change tax regimes for the country's
largest oil and gas projects, including Karachaganak, but fears over such
changes are marked by rumors and assumptions, Kiinov said.
"We don't put forward an aim to resolve this question today. Our proposals are based on
principles," he said.