ExxonMobil to take over as Kashagan oil field operator?
21:20, 6 June 2014
ASTANA. KAZINFORM - U.S. oil giant Exxon Mobil may take over as operator of the Kashagan oil field, probably the world's largest oil discovery in the last 30 years, Reuters reports.
The $50 billion offshore project was halted in October 2013 due to leaky pipelines and Exxon can join in as soon as late June to get things moving. Italy's Eni was appointed as sole lead operator of the project in 2001, but it later lost its role following repeated delays and cost overruns. Kazakhstan's Oil and Gas Minister Uzakbai Karabalin said oil output at the Kashagan field may not resume until early 2016. The Kashagan shareholders are Kazakh state oil company Kazmunaygas, Eni, Exxon Mobil, Royal Dutch Shell, and France's Total each with 16.8 percent, and Japan's Inpex with 7.56%. China National Petroleum Corp. (CNPC) joined the ambitious project in early September 2013 and now it's share amounts to 8.33%.