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ASTANA, Kazakhstan, Dec. 30 (UPI) -- The Kazakh government announced it was attempting to secure a stake in the massive Karachaganak oil and gas field amid tax disputes with consortium members.
The government in Astana said it was negotiating with a group led by U.S., British, Russian and Italian energy giants to buy up shares in Karachaganak, The Financial Times reports.
Kazakh Prime Minister Karim Massimov did not indicate how his government would pay for the shares, and consortium members remain quiet on the possible deal.
Foreign energy majors took over Karachaganak in the 1990s. It holds roughly 2.4 billion barrels of oil and an estimated 15 trillion cubic feet of natural gas.
Talks over the government acquisition of shares in Karachaganak could be complicated by a tax row between Astana and the members of the foreign consortium.
"When the talks are finished there will be a special announcement about this question," said the Kazakh premier.
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