Partners agree on further development of Kashagan field
The Kazakh government, North Caspian Operating Company (NCOC) and members of the production sharing agreement for the Kashagan project have settled a number of industrial, financial and environmental issues raised over the past few years, NCOC told Trend.
“The agreement was signed recently in Astana by the energy
minister, representatives of NCOC and companies participating in
the PSA on the project,” the company said. “Terms of the agreement
Reaching an agreement between the government and members of the production sharing agreement on the project on the issues on which the earlier disagreements arose, is a positive step that will allow all parties to focus their efforts on the safe resumption of production at the Kashagan field as soon as possible, the company said.
The Kashagan field is one of the largest found in the last 40 years. The project is also one of the most difficult technical problems the international oil companies ever dealt with.
The project participants are KMG Kashagan BV, AGIP Caspian Sea BV, CNPC Kazakhstan BV, Exxon Mobil Kazakhstan Inc., INPEX North Caspian Sea Ltd., Shell Kazakhstan Development BV, Total E&P Kazakhstan.