The consortium for the development of the Kashagan oil field, led by the Italian oil and gas company Eni, has concluded a memorandum of understanding with the authorities of Kazakhstan.
This can be called a significant step forward towards the settlement of the conflict. The details of the memorandum are not specified. As previously reported, in the summer the Kazakh government expressed dissatisfaction with the work of the Italian Eni as an operator for the Kashagan project. The reason for the negotiations in Astana was a new cost estimate presented by the operator – the company Eni – for the development of the field, according to which the amount of costs increases from $57 billion to $136 billion. In addition, industrial production is postponed from 2008 to the end of 2010, PRIME-TASS reports with reference to Dow Jones.