BG Group today announced that the Republic of Kazakhstan and the contracting companies in the giant Karachaganak gas-condensate field in north-west Kazakhstan have reached an agreement that will support the further development of the field.
The agreement, effective from 30 June 2012 on satisfaction of conditions precedent, involves Kazakhstan's KazMunaiGas acquiring a 10% interest in the project. This will be done by each of the contracting companies transferring 10% of their rights and interest in the Karachaganak Final Production Sharing Agreement to KMG.
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