Kazakhstan Chamber of Commerce in the USA


Shell or Agip KCO may abandon Caspian oil project Kashagan 0

Posted on August 15, 2014 by KazCham

Business Intelligence from Colibri Law Firm: Issue #91 

Due to delay in exploration of the oil field, Shell or Agip KCO may sell their stakes in giant Kashagan oilfield. 

This announcement follows the statement of Gas and Oil Minister Uzakbay Karaballin that oil production at the giant Kashagan oilfield will be resumed in 2016. 

“At Kashagan both the oil and gas pipes have to be fully changed. 200 km of pipes have to be purchased to replace the damaged pipes. When it comes to scenarios of laying the pipes, there are two possible options. If the optimistic scenario works out, the oil production will be resumed in the first half of 2016; should we apply the second scenario, the expected time of resumption is the second half of 2016. The estimates may be adjusted (…)”,Kazakh Minister told a briefing July 30. 

Quarterly investors loss around $30 billion that makes this oilfield less attractive to foreign constrictors. 

Early Statoil and ConocoPhilips gave up this Kazakh offshore block. In case another foreign stakeholder abandons the project, China and India already expressed their interest.

Total reaffirms 2012 production start date at Kashagan 0

Posted on October 23, 2011 by Alex

Total reaffirms 2012 production start date at Kashagan Commercial production at the Kashagan oil field in Kazakhstan is expected to start in late 2012, Kazakhstan-Novosti reported, citing the deputy director of business development at Total E&P Russia, Maxim Marchenko.  Total is one of the seven oil companies developing the giant offshore project.

“At the end of 2012, we’ll launch initial production at 300,000 barrels per day at Kashagan,” Kazakhstan-Novosti quoted Marchenko as saying at an oil and gas conference in Moscow.  Last week, Umberto Carrara, the head of the Kashagan field’s operator in charge of the first phase, Agip KCO, reaffirmed the 2012 start date.

SOURCE: http://silkroadintelligencer.com/wp-content/files/srikznewsbrief_oct19_2011.pdf

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