The General Manager of ENI, Paolo Skaroni, stated at a briefing in Astana that a new development schedule of Kashagan field and the project budget will be submitted to the members of the consortium Agip KCO by the end of 2006, Trend Special Correspondent in Kazakhstan reports.
He noted that the delay in the commencement of industrial development of the Kashagan field is linked with additional measures taken on environmental protection and the safeguard of personnel in the area of future oil production.
At present work on the offshore portion of the project is being carried out in the hydrocarbon section. Eni is the only operator in the development of the North Caspian project, which covers the ongoing development of Kashagan and other oil fields in the Kazakhstan section of the Caspian Sea.
According to professional estimations, the total amount of investment for the implementation of the first phase of this project is approximately $14 15 bln. This is the third delay in the commencement of the oil production from the Kashagan field development. The estimated reserves of the field comprise $11 bln.