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Delay in Development of Kazakh Field Seriously Threatens Kazakhstan’s Economy: Kazakh Prime Minister

Oil&Gas Materials 6 September 2007 12:27 (UTC +04:00)

Kazakhstan, Astana / corr Trend V.Sharifov, K.Konirova / The delay and the double cost increase of the project on the Kashagan field development will seriously threaten Kazakhstan's socio-economy, Karim Masimov, the Kazakh Prime Minister, said on 6 September.

The Government of Kazakhstan is prepared to open discussions with the consortium to develop this field. "We regard Kashagan as a private case," he said. Primarily oil from the field is expected to be drilled after 2010 part of which will be exported via the Baku-Tbilisi-Ceyhan oil pipeline.

The prime minister said that KazMunayGas National Oil Company intends to become a co-operator in the Kashagan project. Masimov did not name the share of KazMunayGas in the project.

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