Kazakhstan seeks to conclude new oil and gas production sharing agreementsThe Kazakh government is negotiating new production sharing agreements (PSA) with partners on major oil and gas projects, Prime Minister Olzhas Bektenov announced Tuesday."Regarding the terms and conditions of PSAs under which major oil projects are being developed, there is indeed an opinion that the country's interests have been compromised. We are now initiating negotiations with our consortium partners to conclude new PSAs so that our national interests will be protected," Bektenov said at a press conference.However, he emphasized that the discussions do not involve a complete revision of existing contracts, calling such matters "highly sensitive" with significant implications for the investment climate."We will approach this matter prudently, without abrupt moves. This is a normal negotiation process, and we will proceed based on the country's national interests," the prime minister added.In January this year, President Kassym-Jomart Tokayev ordered the government to step up negotiations to extend PSAs on terms and conditions favorable to Kazakhstan."Major investments require long-term planning horizons. Therefore, the government must accelerate negotiations to extend PSA contracts under updated, advantageous terms for the country," the president said.He called for the development of technically challenging oil fields and the country's substantial shale oil reserves."The government should provide support measures to enhance the commercial viability of these projects," Tokayev said. (ICE ALMATY)

Fonte notizia: INTERFAX