News 2011
#3 (69) June, 2011Shell
Shell's division, which is responsible for elaborating a concept of the second phase of the Kashagan project, is abolished. As informed to Interfax News Agency a source familiar with the situation, the employees of the London office of SDK have received an appropriate letter from Pierre Offant, managing director of the operator of the North Caspian project.
The division is abolished because the concept for implementation of Phase II of the Kashagan project has not been approved by the Ministry of Oil and Gas of Kazakhstan. Earlier, the Minister of Oil and Gas of Kazakhstan Sauat Mynbayev stated that the Ministry is not going to approve the concept of the second stage of Kashagan's development because of its inefficiency.
The Telegraph newspaper has informed that Kazakhstan is planning to suspend activity on the basic stage of Kashagan's development for three years because of failure to coordinate the concept of Phase II in the proposed budget. The operator of the North Caspian project, into which enters also Kashagan, is NCOC the shareholders of which are Agip, KMG Kashagan B.V., ConocoPhillips, ExxonMobil, Inpex North Caspian Sea Ltd., Shell and Total, informs Caspionet.