The Oil Ministry of Kazakhstan raised a number of claims to the shareholders of the Kashagan project, the NCOC (North Caspian Operating Company) consortium regarding the second phase of the Kashagan development, the Kazakh Minister for Oil and Gas, Sauat Mynbayev, told a press conference in Astana today, Trend reports.
These issues relate to the economic feasibility of this phase, primarily on the territory of Kazakhstan. Mynbayev confirmed that it is likely that the timing of the second phase of the Kashagan may be delayed until 2021.
Kashagan is a giant oil and gas field in Kazakhstan, located in the north of the Caspian Sea. The geological reserves of Kashagan are estimated at 4.8 billion tons of oil, according to Kazakh specialists.
Disagreements between Oil Ministry of Kazakhstan and Kashagan shareholders
3200 views
