Tokayev Gets Update On LUKOIL's Kazakhstan Activities, Plans

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 7. Kazakh President Kassym-Jomart Tokayev was briefed on the results of LUKOIL's current activities in Kazakhstan and the company's plans for the near future, according to the press service of the president of Kazakhstan.

During the meeting in Astana with LUKOIL founder Vagit Alekperov, the sides discussed further development of cooperation within the framework of joint projects in the oil and gas sector.

LUKOIL holds stakes in several major oil and gas projects in Kazakhstan. According to information published on the company's official website, LUKOIL joined the Karachaganak oil and gas condensate field project in 1997.

The field, located in Kazakhstan's West Kazakhstan region, is one of the world's largest oil and gas condensate fields. The project operator is Karachaganak Petroleum Operating B.V., with LUKOIL holding a 13.5% stake.

LUKOIL also participates in the Tengiz project, which includes the Tengiz and Korolevskoye fields in Kazakhstan's Atyrau region, about 150 kilometers from the city of Atyrau. The project operator is Tengizchevroil LLP, with LUKOIL holding a 5% stake through LukArco.

In addition, LUKOIL owns a 12.5% stake in the Caspian Pipeline Consortium (CPC). The CPC pipeline runs from the Tengiz field to Novorossiysk in Russia, crossing Kazakhstan's Atyrau region and four Russian regions: Astrakhan, the Republic of Kalmykia, Stavropol Territory and Krasnodar Territory.

LUKOIL also operates the LUKOIL Lubricants Central Asia plant in Kazakhstan's Almaty region.

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