(MENAFN- AzerNews) Shell has paid tax totaling $208.4 million to the government ofKazakhstan in 2023, Azernews reports.
According to Shell's report, the tax was paid for oil and gasproduction at Kazakhstan's Karachaganak field.
Shell, through its subsidiary business BG Karachaganak Limited,and Italian corporation Eni jointly operate the Karachaganak oiland gas condensate field. Karachaganak Petroleum Operating b.v.(KPO) is developing the field through a joint venture(participation shares: Shell - 29.25 percent, Eni - 29.25 percent,Chevron - 18 percent, LukOil - 13.5 percent, KazMunayGas - 10percent).
The Karachaganak field was discovered in 1979 and is one of theworld's largest oil and gas condensate fields. It is located innorthwestern Kazakhstan and covers an area of more than 280 squarekilometers. Its initial on-balance hydrocarbon reserves areexpected to be 9 billion barrels of condensate and 48 trillioncubic feet of gas, with cumulative reserves exceeding 2.4 billionbarrels of condensate and 16 trillion cubic feet of gas. Industrialproduction started in 1984.
Meanwhile, Shell strengthened its position as one of the biggestforeign investors in Kazakhstan by contributing more than $18billion to the country's economy.
On March 18, the Prime Minister of Kazakhstan Oljas Bektenov hasheld a meeting with the Executive Vice President of Shell, PeterCostello, to discuss the status of their collaborative projects inthe oil and gas industry.
It was noted that maintaining oil and condensate output at alevel of at least 11 million tons annually is the top objective,according to the Karachaganak expansion project. In order to dothis, the involved parties will guarantee the prompt commissioningof extra compressors for raw gas reinjection.
Concurrently, the question of building a 4 billion cubic meterper year gas processing plant in Karachaganak at the expense of theshareholders is being discussed in order to guarantee the project'scomplete operation.
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