Kashagan oil field to change management model, keep current operator

A changed management model is in store for Kazakhstan's troubled offshore Kashagan field in the next several months, but will not change conditions of the field's production sharing agreement and its shareholding structure, says a spokesman for operating consortium NCOC.

Exxon Mobil (XOM) exec Stephane de Mahieu has succeeded Total's (TOT) Pierre Offant as NCOC managing director, but NCOC denies last week's report that Exxon Mobil is set to take over as Kashagan's effective operator from Eni (E).

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Comments (5)
  • Michael Phillips
    , contributor
    Comments (757) | Send Message
    After being $36,000,000,000 OVER budget it seems a management change may just be in order.
    9 Jun 2014, 03:49 PM Reply Like
  • FleetUSA3226
    , contributor
    Comments (891) | Send Message
    Pierre will enjoy his summer vacation and early retirement.
    9 Jun 2014, 04:02 PM Reply Like
  • nomorehomes
    , contributor
    Comments (137) | Send Message
    Why is it the French can't do anything on their own and always have to call in the Americans?


    I am boycotting French fries again.
    10 Jun 2014, 02:59 PM Reply Like
  • Michael Phillips
    , contributor
    Comments (757) | Send Message
    Because they're busy easy good food, drinking good wine, making love, and having the government pay for all their necessities. If you had that how hard would you work?


    Seriously though, this thing should be renamed. Is their a Kazakh phrase for "Good money after bad"? I'm sure the Germans have a word for that.
    10 Jun 2014, 03:30 PM Reply Like
  • User 12084081
    , contributor
    Comments (2) | Send Message
    If Exxon had been in charge of managing this project they would not have had all of these problems to begin with. People ought to realize how good Exxon is at managing these kinds of large projects.
    10 Jun 2014, 03:33 PM Reply Like
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