Kashagan Consortium: Oil Production Not Expected in 2014

Posted by Michelle Howard
Monday, April 28, 2014
Kashagan Oilfield location. Photo: Uwe Dedering

 A consortium developing Kazakhstan's huge Kashagan oilfield said on Monday it did not expect to produce oil in the offshore field this year due to leaking pipelines.
 


"The current assessment, based on the results of an investigation, is that both the oil and the gas pipelines might have to be fully replaced," the consortium also said.



The North Caspian Operating Company (NCOC) consortium includes Eni, Exxon Mobil, Royal Dutch Shell , China's CNPC, Japan's Inpex and Kazakh state-run KazMunaiGas.


(Reporting by Raushan Nurshayeva; writing by Vladimir Soldatkin; Editing by Alessandra Prentice)

 

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

Euronav Acquires $ 750 mi Facility

The Executive Committee of Euronav NV today announced that it has signed a new USD 750 million senior secured amortizing revolving credit facility led by DNB

NewLead's MT Nepheli Update

NewLead Holdings Ltd.announced today a review of the commercial performance of one of its bitumen tanker vessels, the MT Nepheli since the vessel was delivered to NewLead's fleet.

Nigeria Ramps up Push to Eradicate Oil Theft

Nigerian authorities hope to put an end to rampant oil theft in eight months by increasing drone and naval monitoring of territorial waters and working with local communities,

News

Cosco CSCL Merger Talks Continue

The closed-door talks on what is believed to be merger discussions between Cosco and China Shipping continue, reports local media.   According to JoC, the Chinese

CMA CGM's Profits Jump 67% in Q2

French shipping giant CMA CGM, reported a 66.7% jump in net profit to $156m in the second quarter of 2015. The result compared to a $94m net profit in the same period a year earlier.

CMES Establishes Subsidiary for Valemax

China Merchants Energy Shipping Co., Ltd (CMES), the dry and wet bulk arm of state conglomerate China Merchants Holdings (International) Company Limited, has set

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators
rss | archive | history | articles | privacy | 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: 0.5171 sec (2 req/sec)