Marine Link
Wednesday, October 26, 2016

Kashagan Operator Pick To Come Soon

February 8, 2001

Kazakhstan's first deputy prime minister expects OKIOC, a consortium exploring the giant offshore Kashagan oil deposit, to appoint a project operator within two weeks. Kashagan is seen as potentially the largest oil find in the world in the last 30 years, and could make the vast Central Asian nation of 15 million a leading world oil producer within the next 20 years. But development of the field is still years away, and the nine-member Offshore Kazakhstan International Oil Company (OKIOC) has yet to name an operator for the project. First Deputy Prime Minister Danial Akhmetov said he saw some progress on issue. "I believe the decision on the operator can be expected within the next 15 days," he said. He declined to speculate on which of the Western oil companies forming OKIOC might win the operatorship. "This is a matter for the shareholders," he said with a smile. Another senior Kazakh official said last week that France's TotalFinaElf, which has publicly stated its wish to become operator, had a good chance as it planned to buy BP Amoco's 9.5 percent stake in OKIOC for some $400 million. Total, which already owns 14.3 percent of the consortium, would then become its largest shareholder. OKIOC unites Phillips Petroleum, Royal Dutch/Shell, BG plc, Agip, BP Amoco, TotalFinaElf, ExxonMobil, Statoil (STO) and Japan's Inpex (I8U.F). - (Reuters)

Maritime Reporter Magazine Cover Oct 2016 - Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News