Village threatened by high levels of toxic substances
|
Location |
Kazakhstan
|
|
Total Cost |
$0
|
|
Status |
Active
|
The Karachaganak oil field is situated in northwestern Kazakhstan and contains one of the world's largest deposits of oil and gas with over 1.2 billion tons of oil condensate and more than 1.35 trillion cubic meters of gas. In May 2002, the International Finance Corporation (IFC) approved a 150 million USD loan to Lukoil (Russia) which is one member of the international consortium now called the Karachaganak Petroleum Operation (KPO). KPO includes British Gas with a 32.5% stake, ENI-Agip Italy (32.5%), Chevron Texaco (20%), and Lukoil (15%). The IFC loan will double the production of oil and markedly increase gas exploitation in the Karachaganak oil condensate and gas fields.