Agricultural Investments

June 17, 13:11 Source: APK-Inform Views: 101

Kazahstan: Kashagan shareholders and Government conclude memo of understanding

ASTANA. KAZINFORM - Members of the North Caspian Consortium and the Government of Kazakhstan have signed a memorandum of understanding on Kashagan project's future development and exploration, the press service of the North Caspian Operating Company (NCOC) reports.

The press release notes that the parties have also agreed to discuss the local content and manufacturing capabilities of the project. The signing ceremony took place on June 11.

North Caspian consortium joins the following participants KMG Kashagan BV, AGIP Caspian Sea BV, CNPC Kazakhstan BV, Exxon Mobil Kazakhstan Inc., INPEX North Caspian Sea Ltd., Shell Kazakhstan Development BV, Total E & P Kazakhstan.

North Caspian Operating Company B.V. (NCOC) is designated Operator of activities under the North Caspian Sea Production Sharing Agreement (NCSPSA) acting on behalf of the North Caspian Consortium.

It bears to remind that Kashagan production started in September 2013 and was suspended weeks later when it was discovered the pipelines were leaking. According to recent statements made by the Government of the Republic of Kazakhstan, Kashagan production could resume before the end of 2015.




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