VOL. XLVII

No 09

01-March-2004

CASPIAN

Kashagan Development Plan Approved By Kazakh Government

The Kazakh government and state oil company Kazmunaygas have approved a plan for the development of the giant Kashagan offshore oilfield in the Caspian Sea, which is expected to require investment of $29bn over 15 years. The field will be developed by the North Caspian Sea Production-Sharing Agreement consortium, which comprises: operator Eni 16.67%; BG 16.67%; ConocoPhillips 8.33%; ExxonMobil 16.67%;...