Kashagan Operator Pick To Come Soon

Thursday, February 08, 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 and Japan's Inpex. - (Reuters)
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Vale Profit Falls Amidst Record Output

Brazilian miner Vale SA posted a sharp decline in profit from the previous quarter as lower iron ore prices undermined record production of the steel-making ingredient.

Kurdish Crude Lightered, Destination Unknown

Part of a Kurdish oil cargo has been offloaded from a Greek-managed tanker into another tanker in the South China Sea, but mystery surrounds the identity of the

Asia Dry Bulk Capesize Rates Stay Flat

Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability,

Offshore

Refurbished Seajacks Vessels Leave Shipdock Amsterdam

Seajacks Leviathan and Seajacks Kraken are prepared for their coming assignments, following a series of repair and renewal jobs by Shipdock Amsterdam. The shipyard,

Kurdish Crude Lightered, Destination Unknown

Part of a Kurdish oil cargo has been offloaded from a Greek-managed tanker into another tanker in the South China Sea, but mystery surrounds the identity of the

Hornbeck Offshore Ride High on Q2 2014 Results

Hornbeck Offshore Services, Inc. has announced its financial results for the second quarter ended June 30, 2014.  Following are highlights for this period and excerpts

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Salvage Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1231 sec (8 req/sec)