ConocoPhillips wants to leave Kashagan

ConocoPhillips informed the Ministry of Oil and Gas of Kazakhstan that it might sell its share in the Kashagan project, the minister of oil and gas of Kazakhstan, Sauat Mynbayev said yesterday, Trend reports. “There are partners who are ready to byy the packet,” Mynbayev stated, but didn’t mention who could do it.

Kazakhstan together with Eni, Exxon Mobil, ConocoPhillips, Royal Dutch Shell, Total, and Inpex Holdinfd Inc has been trying to start oil developing in Kashagan since 2005. After several delays the last deadline was defined: late 2012 - middle of 2013.

Kashagan is one of the major oil deposits in the world found in recent 40 years.