ConocoPhillips may sell its share in Kashagan project
Kazakhstan, Astana, Oct.2 / Trend, D.Mukhtarov /
ConocoPhillips company informed the Oil and Gas Ministry of Kazakhstan about possible sale of its share in the Kashagan project," Kazakh Oil and Gas Minister Sauat Mynbayev said on Monday on the sidelines of KazEnergy forum.
"There are partners who are ready to buy this package," Mynbayev said, without specifying which partner is exactly ready to buy the share of ConocoPhillips.
As it was reported earlier, Kazakhstan jointly with Eni, Exxon Mobil, ConocoPhillips, Royal Dutch Shell, Total and Inpex Holdings Inc has been seeking to start commercial production at Kashagan since 2005. After several years of delays the latest "deadline" - late 2012 - mid 2013 - has been set.
Kashagan is one of the largest fields in the world discovered in the last 40 years. According to analysts, with Kashagan Kazakhstan has potential to join top five of largest oil companies in the world.