Italy’s Eni Plans to Invest Over $7 Bln in Kazakhstan

ASTANA. June 14 (Interfax-Kazakhstan) – Italy’s Eni plans to invest over $7 billion in projects in Kazakhstan in four years, CEO of Eni Exploration and Production Division Stefano Cao has said.

At an international business conference in Astana on Friday he said that so far Eni has invested $5 billion and plans to invest over $7 billion more in the next four years.

He added that in 15 years Eni has become a major foreign investor in Kazakhstan.

In Kazakhstan Eni operates the pilot stage of the Kashagan oilfield and owns 18.52% in Agip consortium that implements the project.

Eni also owns 32.5% in the Karachaganak Petroleum Operating BV that is developing a major gas condensate field. Karachaganak contains 1.2 billion tonnes of oil and 1.35 trillion cubic meters of gas.

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