energy

Kazakhstan wants to cut Kashagan costs by 30 percent

By SRI ⋅ July 13, 2009 ⋅  Email This Post ⋅  Print This Post ⋅ Post a comment

(SRI) - Kazakhstan plans to cut expenditures to develop the Kashagan field by 30 percent, KMG head Kairgeldy Kabyldin said on Thursday.

“We need to talk to contractors, suppliers to cut [costs],” Reuters reported Kabyldin as saying.

The total estimated cost of the project is $136 billion. The consortium of companies developing the field said earlier this month the global economic crisis could drive down the cost of the project. The cost of the $32-billion first phase of development was reportedly already cut by $1 billion.

Tags: Kashagan

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