News 2014
July, 2014Kashagan
ExxonMobil and Shell have the intention to extend the contract for the North Caspian project for another 20 years, reported Trend. "Yes, the international consortium of shareholders, in particular, Shell and ExxonMobil, has the intention to extend the Kashagan contract for 20 more years.
Negotiations are under way", said the NCOC source. However, he refused to disclose the conditions, on which the contract extension is possible, and what does the Government of the Republic have to offer, in view of confidentiality of the negotiation process. It is planned to sign a corresponding document between the Consortium and the Government of the Republic.
Earlier, a KMG source said that complex negotiations to extend the contract on Kashagan development for 20 more years, that is, from 2041 (the end of North Caspian project) till 2061, are under way between the Kazakh Government and ExxonMobil and Shell. Then, according to the source, the Government required assistance in the implementation of the State industrialization program from these Consortium shareholders, in exchange for an extension of the time required for the time limit extension.