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Friday, 14 October 2016

Kazakhstan’s Kashagan oil field (finally) makes first shipment

Kazakhstan’s Kashagan oil field (finally) makes first shipment:

"Kazakhstan’s troubled Kashagan oil field, one of the most expensive and delayed projects from the $100 oil era, has exported its first ever cargo of oil.

The giant field, which has become known in the industry as “cash-all-gone” for its bumper price tag and lengthy overruns, has shipped almost 200,000 barrels of crude, Kazakhstan’s energy ministry said.

The field, first discovered in 2000, is one of the largest conventional finds in four decades, but its location in the northern part of the Caspian Sea has complicated the development by Kazakhstan’s state oil company, KazMunayGas, and a consortium of some of the world’s biggest oil companies, including ExxonMobil and Royal Dutch Shell, reports David Sheppard."

'via Blog this'