The Karachaganak saga has become one of the poster children of the oil-producing post-Soviet nations’ sea change in how they perceive themselves and their place in the world, already assured and confident of their capabilities and affluent enough to understand their mistakes of the past. Briefly put, Karachaganak is a story about Kazakhstan realizing that it deserves more of the funds that the international consortium of oil majors that signed up to the landmark 1997 production-sharing agreement paid out. But it is also much more than that…
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