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Kashagan oil field seen unlikely to restart this summer

  • Production at the giant Kashagan oil field in Kazakhstan is unlikely to restart this summer, as the companies involved in the consortium running the project are still awaiting a report on a gas leak that closed the field last October, WSJ reports.
  • Resuming output is important, so the companies - which include Exxon (XOM), Shell (RDS.A, RDS.B), Total (TOT) and Eni (E) - can start generating revenue to recoup some of the $50B they have spent on Kashagan over the last 17 years.
  • It may be even more critical for the Kazakh government, which had based its economic forecasts on revenue from Kashagan, where output was expected to ramp up to 370K bbl/day from 180K bbl/day initially.
Comments (2)
  • Brogembank
    , contributor
    Comments (14) | Send Message
     
    Another setback for this bleeder
    How much longer will it take to get on stream?

     

    And moreover, how much longer until we tuen profitable?

     

    Disclosure
    Long RDS
    3 Apr, 06:07 PM Reply Like
  • User 195396
    , contributor
    Comments (353) | Send Message
     
    I would believe that it is about time that Kaz Pres Nazerbayev cranks up the firing squad.
    3 Apr, 10:17 PM Reply Like
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