Kazakh real estate developer Chagala Group has reached a deal with the Kazmunaigas and Eni consortium to develop the Kashagan oil fields in northern part of the Caspian Sea.
Kazakh real estate developer Chagala Group has reached a deal with the Kazmunaigas and Eni consortium to develop the Kashagan oil fields in northern part of the Caspian Sea.
Chagala, which claims to be the leading real estate developer in western Kazakhstan, is to develop housing, offices, retail and recreational infrastructure for the development. Total investment in the project is put at $130 bn. Chagala says the Kashagan field is the world's biggest oil find in 30 years and will lead to production of 1.5 million barrels of oil a day when it reaches full development.
