AKIPRESS.COM - Kazakhstan and a consortium of oil majors developing the giant Kashagan oil and gas field are considering building a $1 billion gas processing plant nearby, Kazakh Deputy Energy Minister Murat Zhurebekov told ReutersDeputy Energy Minister Murat Zhurebekovon Thursday.

The Central Asian nation has given up the idea of building a similar plant near another large field, Karachaganak, he said.

Kashagan is an offshore oil field in Kazakhstan's zone of the Caspian Sea. The field, discovered in 2000, is located in the northern part of the Caspian Sea close to Atyrau and is considered the world's largest discovery in the last 30 years, combined with the Tengiz Field.