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Negotiations with ENI company management to continue till October 22

Astana. September 12. Kazakhstan Today - Negotiations with the management of the Italian company ENI, the operator of Kashagan project, will be prolonged till October 22, the Prime Minister of the Republic Kazakhstan Karim Masimov informed. As it was informed earlier, the Kazakhstan government has shown discontent with the work of Italian ENI, the operator of the Kashagan project. The reason became new estimates of the expenditures presented by the operator on development of the deposit, according to which the sum of expenses increased from about $57 billion up to $136 billion. The start of industrial extraction has been shifted from 2008 till 2010. The Kazakhstan party stated that it could withdraw ENI the status of the operator. Oilfield Kashagan located in the north of the Caspian Sea, was opened in summer of 2000 by oil well Vostok-1. This is one of the largest deposits in the world discovered for the last 30 years, with geological stocks of oil of 4.8 billion tons. Consortium Agip КСО realizes the North-Caspian project, that includes ENI (the uniform operator of the project), Total, ExxonMobil, Royal Dutch Shell - 18.52 % of the share, ConocoPhillips - 9.26 %, Inpex and KazMunayGas - on 8.33 %.

Resourse: Kazakhstan Today

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