By David L. Stern Published: December 7, 2007
ALMATY, Kazakhstan: Kazakhstan wants either to raise its stake or receive compensation for cost overruns and delays in the Kashagan offshore field, the world’s largest oil find in more than three decades, the Kazakh president, Nursultan Nazarbayev, said Friday.
Nazarbayev, speaking after a regular meeting with foreign investors in the capital, Astana, said he was not seeking to replace Eni of Italy as project operator. That deflated speculation that Kazakhstan wanted the leading role for its own state company, KazMunaiGaz, which is also a consortium member, or to assign it to another company, possibly ExxonMobil.