News 2011#6 (72) Decemver, 2011
The Minister of Oil and Gas of the RКSauat Mynbayev has not confirmed nor denied the information on the sale of share holding of Exxon Mobil in the Kashagan project to the Indian consortium.
«There are no official addresses to the authorized body to date,» stated Mynbayev. As it was informed earlier with the reference to the Indian mass-media, a consortium of three Indian oil companies «are close to the purchase of share in the Kazakhstan’s oil field Kashagan».
The Indian consortium the operator of which is ONGC Videsh (OVL) plans to buy a 16 % interest of ExxonMobil in Kashagan for $6 billion,» quoted the Financial Chronicle newspaper a source in the Indian governmental circles close to negotiations. The Indian gas company Gail and Indian Oil Corporation (IOC) also participate in negotiations on Kashagan, noted a source. In turn, Bloomberg Agency informed that the Indian company has already designated the amount of a possible offer. If it will be approved by the country’s government, ONGC will start official negotiations with the Americans.
Participants in the Kashagan project are the companies Eni, Royal Dutch Shell, Exxon Mobil, Total and KazMunayGas, each holding equal shares (16.81 %), as well as American ConocoPhillips with 8.4 % and Japanese Inpex with 7.55 %. The project is operated by a joint operating company – North Caspian Operating Company B.V.