23 February 2012
Italy-based Eni and UK-based Petrofac have drafted their own plans for building the first phase of a gas refinery at the Karachaganak field in Kazakhstan, Lyazzat Kiinov, head of Kazakhstan's national oil ad gas company KazMunayGas, said at a cabinet meeting. According to Eni's proposals, the refinery would be built in 2015-2019 at a cost of USD 4.9 billion, and according to Petrofac's vision, it would be built in 2013-2016 at a cost of USD 2.5 billion.
KazMunayGas has said the refinery's first train might be put into operation in 2019, and the second in 2023. It will be built in 2014-2018 after the consent of partners to the production-sharing agreement has been obtained and without harming KazMunayGas's obligations to Russia as per their agreement on cooperating in the creation of a joint venture at Orenburg Oil Refinery. KazMunayGas estimates the cost of the Karachaganak refinery at USD 3.7 billion.
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