We recommend

Kazakhstan Devaluation Risk Revealed in …

Kazakhstan Devaluation Risk Revealed in Fivefold Jump in Swaps

In Kazakhstan, the most telling sign that investors are bracing for another currency devaluation is their refusal to part with dollars. Exporters and other holders of the greenback are turning to...

Court Decisions

Court Decisions

It's not often that Kazakhstan's backyard politicking come to the fore. It's rarer yet when such sniping is aired in English, made available to that much larger of an audience...

In the Press

Aliyev, Kazakh exile who fled to Malta, …

Aliyev, Kazakh exile who fled to Malta, found hanged in Austrian jail

Rakhat Aliyev, the Kazakh president's former son-in-law who had came to Malta in a bid to evade double murder charges, has been found dead in an Austrian jail after killing...

Vladimir Putin ordered Russian special f…

Vladimir Putin ordered Russian special forces to steal MH370 and secretly landed it at huge space port in Kazakhstan, claims expert

The missing Malaysia Airlines flight 370 was hijacked on the orders of Vladimir Putin and secretly landed in Kazakhstan, an expert has claimed in a wild new theory.        

In Detail

Why Kazakhstan and Belarus are watching …

Why Kazakhstan and Belarus are watching Crimea very, very carefully

For most former Soviet states, the consensus about Russia's overtures in Crimea is very simple: It's bad. Georgia, itself on the receiving end of Russia's military in 2008, isn't too pleased...

Why Can't The Former Soviet Republics Fi…

Why Can't The Former Soviet Republics Figure Out Democracy?

  The Soviet Union collapsed more than 20 years ago, yet genuine democracy is still a stranger in most of the 15 former republics. Ukraine, where at least 25 people were...


In Focus

Far From Kazakh Chief's Inner Circle, Aliyev Found Dead in Cell

Far From Kazakh Chief's Inner Circle, Aliyev Found Dead in Cell

Rakhat Aliyev rose to the height of influence and power in Kazakhstan, marrying the president's daughter and controlling many of the country's major companies. By the time he was found dead in a Vienna jail cell today while awaiting trial for murder, he'd been on...

Kazakh ex-diplomat Aliyev dies from apparent suicide - Austrian court

Kazakh ex-diplomat Aliyev dies from apparent suicide - Austrian court

Rakhat Aliyev, the Kazakh president's former son-in-law turned opponent, has been found dead in an Austrian jail from an apparent suicide, a court spokeswoman said on Tuesday.        

neft_3The second phase of development of the Kashagan oil field has been postponed until 2018-2019, local newswires reported on Thursday, citing the chief executive of Kazakh oil and gas company KazMunaiGas.


"The group of six Kashagan participants on July 27 informed the [Kazakh] Oil and Gas Minister that the time frame for Phase II at the Kashagan field was being put back to 2018-2019," Kabyldin was quoted as saying by Interfax.


The delay would also affect the start of the [1] Kazakh Caspian Transport System (KCTS), designed to carry Kazakh oil across the Caspian to Azerbaijan and on to foreign markets, according to Kabyldin.


The consortium of oil companies developing the giant offshore field did not immediately comment and declined to confirm the delay.


Commercial production at the [2] Kashagan field is expected to begin in 2012. Production will reach 1 million barrels a day during the second phase of development and will peak at 1.5 million barrels a day during the third phase.


Kashagan is the largest oil field discovered in the last 30 years with recoverable oil reserves are estimated at a minimum of 7-9 billion barrels and the total oil in-place at 38 billion barrels.


Kashagan is being developed by the North Caspian Operating Company consortium, which is also developing the adjoining Kairan, Aktoty and Kalamkas oil fields. The consortium includes Eni, Royal Dutch Shell Plc, ExxonMobil Corp, Total, KazMunaiGas (all with a 16.81 percent stake), ConocoPhillips (8.4 percent) and Inpex Holdings Inc (7.56 percent).


SRI

Support Freedom of speech! Share this post!

Submit to DeliciousSubmit to DiggSubmit to FacebookSubmit to Google BookmarksSubmit to StumbleuponSubmit to TechnoratiSubmit to TwitterSubmit to LinkedIn

 

Copyright © 1997-2014 IAC EURASIA-Internet. All Rights Reserved.
EWS 9 Wimpole Street London W1G 9SR United Kingdom