GlobalData: Upstream Projects Remain Strong in Kazakhstan While Azerbaijan’s Crude Declines
While Kazakhstan and Azerbaijan have added over 1 million barrels per day (mmbd) to the world’s oil supply since 2005, the two countries are now diverging in their ability to grow production and influence global supply, according to an analyst with research and consulting firm GlobalData. Anna Belova, GlobalData’s Senior …
EIA: Kazakhstan Report
Kazakhstan, an oil producer since 1911, has the second-largest oil reserves as well as the second-largest oil production among the former Soviet republics after Russia. Kazakhstan is a major oil producer. The country’s estimated total petroleum and other liquids production was 1.70 million barrels per day (bbl/d) in 2014. The …
ENI: CEO, Claudio Descalzi, Meets With The Prime Minister of Kazakhstan, Karim Massimov
The Prime Minister of Kazakhstan, Karim Massimov, and the Minister of Energy, Vladimir Shkolnik, met Eni’s CEO Claudio Descalzi today in Astana. In the meeting, Claudio Descalzi illustrated the positive progress of Eni’s activities in Kazakhstan, with a particular focus on the projects for the Kashagan and Karachaganak fields, and Eni’s …
Kashagan Restart Slips to Optimistic Summer of 2016
Kazakhstan’s giant Kashagan oilfield may resume production in the first half of 2016 under an “optimistic scenario”, Kazakh Oil and Gas Minister Uzakbai Karabalin said on Wednesday, putting off his earlier estimate of the restart date. Production from the oil deposit in the Caspian Sea, one of the world’s biggest …
ENI and KMG Sign Isatay Agreement
The agreement will result in KMG and Eni each holding 50% of exploration and production rights in Isatay, an offshore exploration area located in the north Caspian Sea In the presence of the President of the Republic of Kazakhstan, Nursultan Nazarbayev, and the Italian Prime Minister, Matteo Renzi, KazMunayGas’ (KMG) Chairman …
NCOC Appeals $737 mln Ecological Flaring Fine on Kashagan
A consortium developing Kazakhstan’s huge Kashagan oilfield said it had appealed a 134.2 billion tenge ($737 million) fine by a regional Kazakh authority for ecological damage at the site in the Caspian Sea reported Reuters. The fine adds to the woes of the multinational group, which has already spent about …
Kashagan Facing $737m USD Fine Over Post Leak Flaring
Kazakhstan is suing foreign oil majors developing its huge Kashagan oilfield in the Caspian Sea, a tactic similar to those that secured the government large stakes in two of the three multinational energy projects on its territory reported Reuters. * Government has already threatened to sue over delays * Tactic …
Kashagan: Christophe de Margerie “Not to Restart Before the End of the Year”
Kazakhstan’s giant Kashagan oilfield will not be able to restart production before the end of 2013, the chief executive of French oil company Total , one of the partners in the project, said on Sunday, reported Reuters. Kazakhstan has been looking forward to revenues from Kashagan, the world’s costliest oil …
Kashagan: Production Halted as Second Leak Detected
Kazakhstan’s giant offshore Kashagan oilfield halted output after a gas leak was detected on Oct. 9, a consortium developing it said on Friday, the second stoppage there since its launch a month ago. The new accident at Kashagan, which is expected to sharply ramp up Kazakhstan’s oil output in the …
Kashagan Oilfield Resumes Output After Leak
A consortium developing Kazakhstan’s giant Kashagan oilfield has resumed production after an industrial accident halted work at the deposit last month, the Kazakh Oil & Gas Ministry said on Monday. Work at the offshore field – one of the world’s biggest oil finds in decades – was halted on Sept. …