Kashagan Oil Field: The project from hell

Kashagan Oil Field, Kazakhstan – Picture Credit: Flickr/NASA’s Earth Observatory

In an interview given to Kursiv.kz, Dr Carole Nakhle, CEO of Crystol Energy, comments on the Kashagan oil field and the challenges it faces. Dr Nakhle explains that the latest estimates by the partners and the Kazakh Government of an increase of 450,000 bpd in oil production may be optimistic – not because the capacity is not there – on the contrary the field is one of the largest in the world, but because buy accutane in malaysia of the difficulties faced by the partners since the field’s discovery and development in the early 2000s. For long, the Kashagan oil field was known as the ‘project from hell’; what ought to be a big success turned out to be a very challenging venture with substantial cost overruns and continuous delays of the start and sustaining of commercial production.

Dr Nakhle also cautions that any production expansion should factor in Kazakhstan’s commitment to the OPEC deal and the oil price environment.

Read the full article (in Russian)