Development of Biggest Kazakh Oil Field anew Postponed
Kazakhstan, Astana, 12 May / corr Trend K.Konirova / Shareholders of the international consortium Agip KCO support the re-postponed development of the Kashagan field in Kazakhstan to 2012 or 2013, Sauat Minbayev, the Kazakh minister for energy and mineral resources, stated in Astana on 12 May.
"The foreign participants in the consortium want to delay the term. They hold different scenarios and offered 2012 or 2013," Minbayev said.
Earlier, the sides reached an agreement to delay the term of production from 2008 to 2011 following long and difficult talks between the governments of Kazakhstan and project members.
The minister said that Kazakhstan intends to favor strict position on the decision to apply fine sanctions in connection with the delay in the large oil production from Kashagan.
"We will strictly response to the results. If there is any delay in term at this stage tough, sanction must be defined. Therefore, we have tried to agree for the next time," the minister said.