Kazakhstan supports compliance with its and investors interests - Nazarbayev
Astana. December 10. Kazakhstan Today - Kazakhstan supports compliance with its interests and the interests of its investors, the President of Kazakhstan Nursultan Nazarbayev said at the meeting with foreign diplomatic corps accredited in Kazakhstan, the agency reports.
"Negotiations being conduct on Kashagan for observance of interests and safety of Kazakhstan should not imply that Kazakhstan ostensibly deviate from the accepted policy towards market economy and fidelity to the earlier concluded contracts," the President emphasized. "During the development we reconsider some aspects only if there are infringements of the interests of the country," he explained.
Kashagan - the largest oilfields in the world opened for the last 30 years, with the reserves of at least in 7 - 9 bn of barrels. In the end of July, ENI presented the government of Kazakhstan Kashagan proposal, according to which the date of extraction was shifted from the second half of 2008 to the second half of 2010. Thus, volume of expenses is expected to be increased from $57 bn up to $136 billion. Kazakhstan party has expressed disagreement with such a sharp increase of the level of expenses and change of the date of oil extraction.
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