- Eni (NYSE:E) CEO Paolo Scaroni says he expects the problems at the Kashagan field in Kazakhstan to be resolved next year and doesn't foresee huge further repair costs after already spending $8.2B on the project.
- However, the Kashagan consortium - which also includes Exxon (NYSE:XOM), Total (NYSE:TOT) and Shell (RDS.A, RDS.B) - still hasn't decided how it will repair the damaged pipelines, Scaroni says.
- Production at Kashagan, the world's biggest oil find in 35 years, started last September but was stopped the following month after gas leaks were found in the pipeline network.