Kazakh Premier Orders Adherence To Oil Contracts
January 18, 2007
Kazakh Prime Minister Karim Masimov (official site)
An official Kazinform news report posted on the government's website says Masimov expressed his frustration at the way some oil contracts are being implemented.
Among other sticking points, he mentioned irregular extensions of exploration deals, early exploitation of hydrocarbon fields, and overspending.
It was not immediately clear which oil companies prompted Masimov's statements.
Kazakhstan has signed contracts worth billions of dollars with Western oil firms since the early 1990s.
Masimov today said that Kazakhstan's energy policy will remain unchanged under his tenure, which began on January 10.
Kazakh authorities threatened in 2006 to revoke the license of the partially U.S.-owned Tengizchevroil joint venture unless it complies with environmental legislation.
Masimov is a former bank executive and economic adviser to President Nursultan Nazarbaev.
His predecessor as prime minister, now Defense Minister Daniyal Akhmetov, was criticized by Nazarbaev over his spending record and his alleged failure to curb corruption.