BRITISH TO CHECK TENGIZ DEAL

A visit to London by Nursultan Nazarbayev, president of the Soviet republic of Kazakhstan, has resulted in an agreement whereby unidentified "British experts" will help analyze the proposed contract for development of supergiant Tengiz oil field by Chevron Corp., the Moscow newspaper Kommersant reported. Signed in June 1990, the pact has sparked a controversy in the U.S.S.R. amid charges that it provides unfair advantages for Chevron (OGJ, Aug. 5, p. 14). Nazarbayev also met with officials of

Dec. 2, 1991

2 min read

Signed in June 1990, the pact has sparked a controversy in the U.S.S.R. amid charges that it provides unfair advantages for Chevron (OGJ, Aug. 5, p. 14).

Nazarbayev also met with officials of British Petroleum Co. plc and British Gas, Kommersant reported.

The publication also said, "British experts are expected to be involved in analysis of a contract with the French company Elf Aquitaine, which is being prepared in relation to exploration of hydrocarbon deposits in Kazakhstan's Aktyubinsk region."

This contract, Kommersant said, "is on a scale equal to that of Tengiz field."

The Moscow newspaper said Nazarbayev secured an agreement with major British banks to assist in training Kazakhstan's bankers and render consulting services to the republic's government in its effort to carry out market reforms. While in London, the Kazakh leader also met with officials of a Saudi Arabian bank that has opened a subsidiary in Alma-Ata, capital of Kazakhstan.

Kommersant said along with recent successful trips to China and Turkey, the London visit outlined the foreign economic strategy of Nazarbayev, "who hopes to make his republic a crossroads between East and West."