According to the British oil and exploration production company, BG plc, arguments over taxation issues are delaying the reopening of the Karachaganak oil and gas field in Kazakhstan which was closed earlier in September for maintenance operations. Karachagnak provides BG plc with 20 per cent of its output. A BG spokesman stated: 'We have been ready to start up again for a few days now but there is some unresolved issue which we need to have guidance on relating to VAT. We are waiting for that before we start up again.'
The dispute is centred around the charging of VAT twice and it will need the two governments of Kazakhstan and Russia - which imports the 20 per cent of output - to agree to some kind of double taxation agreement. In 2000, Karachaganak produced 18 million barrels of oil equivalent of crude oil and gas for BG and its partners: ENI (Italy), Texaco (US), and Lukoil (Russia).
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