The Government of the Republic of Kazakhstan (RoK) has indicated that it believes it has a pre-emptive right to acquire the whole of BG's stake in the NCPSA, on the same terms, including price, as previously agreed with the pre-empting parties, and has expressed its desire to do so.
BG continues to work with the pre-empting parties and the RoK to complete the previously announced sale of its interest in the NCPSA as soon as possible.
In March 2003, BG Group announced the sale of its 16.67 percent interest in the North Caspian Sea Production Sharing Agreement (NCPSA) to CNOOC North Caspian Sea Limited and Sinopec International Petroleum Exploration and Production Corporation. Subsequently, five of the six partners in the NCPSA exercised their pre-emption rights in May 2003; BG executed SPAs with the pre-empting partners in September 2003.
The Republic of Kazakhstan and partners announced the approval of the Kashagan Development Plan and Budget in February 2004.
The partners of the North Caspian Sea PSA are: Eni (Operator 16.67%), BG Group (16.67%), ConocoPhillips (8.33%), ExxonMobil Kazakhstan Inc. (16.67%), Inpex (8.33%), Total (16.67%), Shell (16.67%).
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