Kazakhstan, Astana, June 5 / Trend , K.Konyrova/
Corrections will be made to the budget of the oil project Kashagan at the meeting of participants of the North-Caspian project (Kashagan), a source from KazMunayGaz told Trend in Astana.
"The cost correction of the project will be considered. Corrections will be made to the project because of changes of oil prices which dropped from $140 per barrel to $60 of this year," the source added.
The North Caspian Operating Company (NCOC) is the operator of the North-Caspian project.
The North-Caspian project involves the development of several oil units in the Kazakh section of Northern Caspian shelf, the largest of which is the Kashagan field. In 2000, its reserves were estimated between 9 and 13 billion barrels of oil.
Participants of NCOC are Eni, Total, ExxonMobil, Royal Dutch/Shell, ConocoPhillips, Inpex and the national oil and gas company of Kazakhstan KazMunyGaz.
Do you have any feedback? Contact our journalist at: [email protected]