Report summaryThe Buzachi North oil field is located in the North Ustyurt basin of west Kazakhstan. Ownership has changed a number of times. Most recently, in August 2015, LUKOIL sold its 50% stake in a JV (including 25% of Buzachi North) to Sinopec for US$1.1 billion.The field was discovered in 1975 but was never developed, owing to the cold, viscous nature of the crude. This is a result of the reservoir being very shallow. Recent partners have all maintained an active drilling programme (over 1,000 ...
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