Astana. October 9. Kazakhstan Today - The Contract with Eni Company on development of Kashagan deposit will not be reconsidered. The President of Kazakhstan Nursultan Nazarbayev stated on Monday at the press conference after negotiations with the Prime Minister of Italy Romano Prodi. N. Nazarbayev reminded that 10 years ago Kazakhstan with a group of seven world companies signed the agreement on production on the largest deposit Kashagan. "There were no problems for 10 years," he emphasized. "This year the operator of ENI group, who became the operator by the support of the government of Kazakhstan, presented the government a new budget, which increases expenses by $100 billion and postpones the first oil production from 2005 to 2010," the President reminded. "Our government considered this as a lost in the budget of a large amount of money, which had been planned in our strategic plans for development of economy and improvement of social status of our population," he added. "In this connection, both parties started negotiation process. These are commercial negotiations, which concern neither the President of Kazakhstan, nor the Prime Minister of Italy. Thus, the leader of the state emphasized that "if investors break the signed contract, the Kazakhstan party reserves the right to itself to take appropriate measures according to the legislation of the country," N. Nazarbayev emphasized.
Resourse: Kazakhstan Today