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Kazakhstan and a consortium of supermajor oil companies have agreed once more to postpone the start of production at the Kashagan oil field project until the end of 2013.
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The government of Kazakhstan and a consortium of supermajor oil companies signed a memorandum of understanding June 29 to postpone the start of production at the Kashagan oil field project from the already-delayed date of 2011 until the end of 2013. This marks the fifth time in three years that the project, originally slated to start production in 2005, has been delayed.

Discovered in 2000, Kashagan is one of the biggest oil finds of the decade. It is estimated to contain 38 billion barrels of oil, with potential peak production of 1.2 million barrels per day (bpd). The consortium of companies in charge of the project includes ENI, Royal Dutch/Shell, Total, ExxonMobil, ConocoPhillips, Inpex and Kazakh state energy company KazMunaiGas.


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