MILAN (Thomson Financial) - The start of production at the Kashagan oil
field in the Caspian may be delayed to 2015, daily Il Sole 24 Ore reported,
citing unidentified Italian sources.
On Monday, Kazakh Energy minister Sauat Mynbayev said the consortium of oil
companies developing Kashagan may delay production phase to 2012 or 2013.
Mynbayev said penalties will have to be imposed if there are further delays.
Kashagan had initially been due to come on stream in 2005. By early this
year the scheduled start date had slipped back to 2011.
The main Western partners of the consortium - Eni, Total, ExxonMobil and
Royal Dutch Shell - each hold 16.81 pct, as does Kazakh state-run energy company
KazMunaiGaz.
danilo.masoni@thomsonreuters.com
dm/sal
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|