Kazakhstan, seeking to boost oil output by 60 percent over the next decade, will not change contract terms with foreign oil majors unless investors fail to meet targets, the country's prime minister said on Wednesday.Karim Masimov said investors in Kazakhstan's oil sector, the largest in Central Asia, were primarily responsible for various contractual disputes and that the country would seek to reopen talks on a massive oilfield development should production lag.
"Whatever disputes you may hear about from investors, it's basically started by them. They are asking for some additional favours," Masimov told Reuters.
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Source: Forexyard
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