(bne) – Shell and its partners developing the Kashagan oilfield will have to ask the Kazakh government for an extension to the 2013 deadline for the first oil from the troubled project, in what would be a humiliating move that could have dire consequences for the future of the project, according to The Daily Telegraph.
(bne) – On the heels of news that KazMunaiGas has signed off on the deal to increase its stake in the Kashagan project come reports Kazakhstan is close to striking a deal over the Karachaganak venture, under which the international consortium developing it would avoid export duties in return for handing over a stake.
(bne) – After more than a year of often-tense negotiations, the Kazakh government is due to finalise an agreement with the consortium developing the enormous Kashagan oilfield in September.
ENI CEO says Kashagan going full steam
(Reuters) – Kazakhstan’s Kashagan oil field, which has suffered severe delays, is now going full steam, the chief executive of operator ENI said, playing down suggestions the government was holding up the project.
Tensions mire Kazakh oil potential
(UPI) – The strained relationship with energy-rich Kazakhstan and world oil giants overshadows the renewed international interest in the country’s vast reserves.
Kazakh uranium plans develop with acid plant
(World Nuclear News) – Kazakhstan’s uranium mining operations stepped forward recently with permission to ramp up the South Inkai in-situ leach mine and a new sulfuric acid plant essential for such operations.
Seeking a Caspian Sea route to export oil to Europe (AsiaNews.it)
Exxon attacks Kazakh oilfield delays
(Financial Times) – ExxonMobil, the world’s biggest listed integrated energy group, on Tuesday blamed the government of Kazakhstan for delaying the development of the world’s biggest new oilfield, significantly raising the level of acrimony surrounding the troubled project.
Eni to remain Kashagan operator till commencement of commercial production
(Interfax) – Italian Eni SpA will remain the operator of the Kashagan project in the North Caspian Sea till the commencement of commercial production in 2013, Total CEO Christophe de Margerie told Bloomberg in an interview.
Kazakhstan joined World Petroleum Council
(Kommersant) – Kazakhstan has joined the World Petroleum Council (WPC), Interfax reported July 1 with reference to KazEnergy association of oil, gas and energy companies of Kazakhstan.
Max Petroleum extends deadline of restructuring deal until Aug 31 (Thomson Financial – Interactive Investor)
Kashagan deal good for Western group — analysts
(Reuters) – Western companies developing the giant Kashagan oilfield struck a good deal when they signed a memorandum on the project’s future with Kazakhstan’s government last week, analysts said on Monday.
Production delay at Kashagan oil field
(Oil and Gas Journal) – The Kazakh government, winning important new economic concessions, agreed to a further delay in the start of production at the offshore Kashagan oil field after meeting with the Eni SPA-led consortium developing the field.
Tethys Petroleum: Commencement of AKK15 shallow gas exploration well (Market Wire – Fox Business)
Lack of export insfrastructure hinders Kazakhstan’s bid to become oil power
(World Politics Review) – As oil production in the landlocked country increases in the years ahead, Kazakhstan could find itself without viable export routes to bring its hydrocarbon wealth to market.
Kazakhstan agrees to late Kashagan oilfield start
(Reuters) – Kazakhstan has agreed to put off the start of production at the huge Kashagan oilfield until 2013, Energy Minister Sauat Mynbayev said on Saturday.
Fresh Kashagan oil delay sparks anger (Financial Times)
Caspian to restart oil production operations
(Oil and Gas Eurasia) – Caspian Holdings Plc, the oil and gas exploration Company with leases in Kazakhstan and the USA announces that it has received work programme approval for its Zhengeldy project in Kazakhstan from Zapkaznedra.
Fitch affirms KazTransGas at ‘BB’ and Intergas Central Asia at ‘BB+’
(Interfax) – Interfax-Kazakhstan – Fitch Ratings has affirmed Kazakhstan-based KazTransGas’s (KTG) ratings at Long-term foreign and local currency Issuer Default (IDR) ‘BB’ and Short-term foreign currency IDR ‘B’, the rating agency announced on Friday.
Development of Kashagan Field Postponed until 2013: Interview with Chairman of KazEnergy Association Timur Kulibayev
(TREND) – “The increase in the capital expenditures on the development of the field is being discussed today as it is very objective process with the price rise in all kind of goods and services. Kazakhstan has stated that the technological solutions offered by AGIP consortium KCO are reasonable. We accept these date – 2013.”
Consortium including MOL discovers oil and gas in Kazakhstan
(Budapest Business Journal) – Hungarian oil and natural gas company MOL announced that a consortium in which it owns a 27.5% stake has discovered oil and natural gas in the Fedorovskoye Block located in the Northern Western Kazakhstan Region of the Republic of Kazakhstan.
Roxi hit by suspension
(Investors Chronicles) – Roxi Petroleum has had a somewhat confused start to life on Aim. When the Kazakhstan-focused oil exploration company floated in May 2007, it raised some $78m (ÂÂ£40m), principally
to acquire and develop two assets – Ravninnoe and Beibars.
Tethys Petroleum files final prospectus (eMedia World)