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Reuters: Kazakh oil min says favours Shell for Nursultan

Tue Nov 28, 2006 1:49am ET

ASTANA, Nov 28 (Reuters) – Kazakhstan’s Energy Minister Baktykozha Izmukhambetov said on Tuesday the government favoured Royal Dutch Shell (RDSa.L: Quote, Profile, Research) to explore the Nursultan oil block in the Caspian Sea.

He said ConocoPhillips (COP.N: Quote, Profile, Research) had also approached the ministry over the project.

“I think a decision will be made on this in the nearest future, probably before the end of the year,” he said. “But we are more likely to favour Shell after all.”

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