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Posts Tagged ‘Kashagan’

Kashagan delays mar outlook for Eni, Total and Shell

Extract from FT article by Guy Chazan published 20 July 2014 Three of Europe’s largest oil companies could take a $1.5bn hit to earnings as a result of delays to Kashagan, the $50bn oil project in the Caspian Sea that has been bedevilled by hold-ups and cost over-runs. FULL FT ARTICLE Copyright The Financial Times […]

Reflections on the notorious Kashagan ‘Cash All Gone” project 

By John Donovan In view of the recent shattering news from the jinxed Kashagan project… Production at Kazakhstan’s Kashagan Oil Field Halted Until 2016 …it is interesting to reflect back on the situation as it was in 2007, reported in this Reuters article by Tom Bergin. It seems that not much has changed. It also […]

Pipeline problems cloud Kashagan oil outlook

Extract from a Geoff Hiscock article published by The Australian on 2 July 2014 A YEAR ago, one of the world’s biggest oil and gas projects, the massive Kashagan field in Kazakhstan’s part of the Caspian Sea, was on the verge of starting production after more than a decade of development and US$40 billion in […]

Report: Exxon May Take Over as Kashagan Operator

Extract from a Reuters/Rigzone article by Dmitry Zhdannikov, published Friday 6 June 2014 LONDON, June 6 (Reuters) – U.S. oil major Exxon Mobil is in line to take over as operator of the giant Kashagan field in an attempt to fix the beleaguered $50 billion project offshore Kazakhstan, industry publication Nefte Compass reported on Friday. The Kashagan […]

Kashagan ‘Cash All Gone’ Pipeline Debacle

Shell has been a key participant in the Kashagan project consortium which includes Eni and ExxonMobil. Given its notorious track record of over-promise and under delivery, having Shell involved is a bad omen for any elephant project. By John Donovan The latest news from the “Cash All Gone” project (as it is widely known) is […]

Kashagan oilfield may not restart until 2016

Extracts from a Reuters article by Mariya Gordeyeva published 21 May 2014 under the headline: Kashagan oilfield may not restart until 2016, Kazakh minister says May 21 (Reuters) – Oil output at Kazakhstan’s giant Kashagan field may not resume until early 2016, Kazakh Oil and Gas Minister Uzakbai Karabalin said on Wednesday, urging foreign partners […]

Kazakh Minister: All Kashagan Pipelines To Be Replaced

Extracts from a Reuters article by Olesya Astakhova published 15 May 2014 MOSCOW, May 15 (Reuters) – The consortium developing the giant Kashagan oilfield will have to replace the entire pipeline system at the deposit, Kazakhstan’s oil minister said on Thursday, confirming that output there would not resume this year. The North Caspian Operating Company (NCOC) developing […]

Kashagan project closed indefinitely

Extract from oilprice.com article by James Burgess published 23 April 2014 under the headline: “Kashagan Field Plans Pipeline Replacement” After weeks of review, the operators of Kazakhstan’s giant Kashagan oil field have concluded that pipelines carrying oil and gas will need to be replaced due to extensive damage. The consortium — which includes Eni, Total, […]

Royal Dutch Shell bets on LNG, on an epic scale

By John Donovan The comments below are from a Motley Fool article that draws attention to the fact that Shell’s Prelude FLNG project represents a bet “on an epic scale.”  The author is right. The project is an uninsured, uninsurable risk, which like Shell’s Alaskan ambitions, could potentially destroy Shell.  As to the likelihood of […]

Yet More Problems Hit the World’s Largest Oil Project

Extract from an article by Rupert Hargreaves published 16 April 2014 by The Motley Fool Simply put, H2S is eating away at the undersea pipelines, causing cracks and fractures. Gas needs to travel through these lines for the project to start production, and engineers can’t just patch the system up; the whole pipeline network may […]

Controversial Corrib field to pump gas by next year

Extracts from an article by Sarah McCabe published 10 April 2014 by the Irish Independent The development of the field off the north-west coast has been plagued by setbacks, which have delayed it for more than 13 years. Construction of a 4.9km tunnel under Sruwaddacon Bay, a special conversation area, is also progressing, new company […]