The Karachaganak project is one of the largest projects on the production of hydrocarbons in Kazakhstan
The Final production sharing agreement of Contract Area of Karachaganak oil, gas and condensate field was signed on 18 November 1997, between Agip Karachaganak В.V., B.G. Exploration and Production Limited, Texaco International Limited, “Lukoil” Oil company JSC, the Government of the Republic of Kazakhstan and National oil company “Kazakhoil” CJSC (hereinafter - FPSA).
The duration of the project is 40 years.
The talks on dispute settlement between the Republic of Kazakhstan (hereinafter - RK) and the Contracting Companies of Karachaganak project were held by the Minister of oil and gas of RK and «PSA» LLC.
Later, on the 14th of December 2011 the Settlement agreement was signed between the Government of the Republic of Kazakhstan, the Ministry of oil and gas of the Republic of Kazakhstan, Agip Karachaganak В.V., ENI S.p.A., B.G. Karachaganak Ltd, B Group pls., Chevron International Petroleum Company, Texaco Ink., Lukoil Overseas Karachaganak B.V., “Lukoil” Oil company JSC, Karachaganak Petroleum Operating B.V..