RU
RU KZ EN
-10°
-10°C
clear
Almaty Astana Aktau Aktobe Atyrau Zhezkazgan Karaganda Kokshetau Kostanai Kyzylorda Pavlodar Petropavlovsk Semipalatinsk Taldykorgan Taraz Turkestan Uralsk Ust'-Kamenogors Chimkent
Exchange rate
USD / 185.05
EUR / 205.94
RUR / 3.00
CNY / 29.51
Contacts
Contact us +7 (727) 388 8020 +7 (717) 254 2710
Weather in city
KZ RU EN
Contact us +7 (727) 388 8020 +7 (717) 254 2710
  • USD / KZT - 185.05
  • EUR / KZT - 205.94
  • RUR / KZT - 3.00
Almaty Astana Aktau Aktobe Atyrau Zhezkazgan Karaganda Kokshetau Kostanai Kyzylorda Pavlodar Petropavlovsk Semipalatinsk Taldykorgan Taraz Turkestan Uralsk Ust'-Kamenogors Chimkent Tengri FM 107.5 Wednesday, 04.03.2015
-10 °C
clear
Hot news: Kazakhstan’s President receives Head of KazAtomProm National Nuclear Company Kazakhstan’s Central Bank comes up with plan to reduce economy dollarization UCI requests withdrawal of Astana Pro Team's license Puccini's La Boheme on Astana Opera stage Kazakh Wolves tame Thunder: Astana Arlans win Italian Thunder 3:2 Helicopter crashes in Zhambyl Oblast of Kazakhstan Kazakh woman to run for Polish presidency Narcotics found in Aliyev's blood Astana Opera to stage Verdi's La Traviata directed by Brockhaus Kazakhstan to introduce ban on imports of gasoline and diesel fuel Heavy toll as Australian farmers struggle through drought Kerry to meet Russia's Lavrov for talks on Ukraine crisis Prince William meets Xi, visits sites on China visit Tens of thousands march for slain Russian opposition leader Nemtsov Israel's Netanyahu in US to stop 'bad' Iran deal 'Focus' snatches US box office gold Kerry: US seeks 'transparent, real' probe into Nemtsov murder Detained Ukrainian lawmaker released from custody in Moscow Asian firms challenge Apple with snazzy new smartphones 200 years on, Napoleon returns to southern France Litvinenko widow says Russian opposition killing 'like deja vu' Hong Kong police arrest 33 after anti-mainland march Pope denounces 'intolerable brutality' in Iraq, Syria New Lianyungang-Almaty container train launched Details of early presidential election in Kazakhstan Nazarbayev and Putin discuss Ukraine Nyong'o stolen pearl gown recovered by police Russian opposition leader Nemtsov shot dead: official Versace thrills with thigh-high boots at Milan fashion Jeb Bush cheered, jeered at conservative confab Google hits back at rivals with futuristic HQ plan From westerns to sci-fi: Leonard Nimoy's varied career Cameron defends security services after media unmask 'Jihadi John' Obama, Afghan leader to meet in late March at WHouse Greek PM announces first 'humanitarian' legislation Liberia leader hails Obama's 'extraordinary' Ebola efforts Bjork won't stream breakup album One billion young at risk of hearing loss from loud music: WHO Mexico's Pemex oil firm posts $17.7 billion loss GDP inventor's Nobel medal sells for $391,000 Ukraine at a 'crossroads', still faces threat of war: OSCE Welsh music at Astana Opera and live on Tengrinews today March in Mexico City over slain students Australian PM Abbott bats away leadership speculation Estonians vote amid heightened security concerns over Russia Amal Clooney slams Canada over Al-Jazeera journalist case Long live the King! Elvis returns to Vegas British claim to have cut EU charge false: report Pearl Oscars dress worn by Nyong'o stolen: police Kerry to meet Russian, Iranian FMs next week Mystery Apple event planned for March 9, likely on Watch Pop star Katy Perry visits Auschwitz death camp UN to discuss Ukraine on anniversary of annexation Madonna says 'Intolerance' in Europe 'feels like Nazi Germany' Former Beatle Paul McCartney's childhood home sold UNESCO demands crisis meet over Iraq heritage destruction Presidential elections in Kazakhstan scheduled to April 26 France's Hollande seeks climate 'alliance' with Philippines India pledges $137 bn to modernise railways 'Cape calm and carry on': Madonna mocked after Brits tumble West's shows 'unwillingness' in Ukraine truce: Lavrov Britain's Prince William set to arrive in Japan Crimean Tatars living in fear in homeland ruled by Russia Australia warns women IS no 'romantic adventure' Boston bombings trial to start March 4: court official US, Iran have 'mutual interest' in defeating IS: Kerry Gmail available in Burmese, the email's 74th language UN Security Council calls for stepping up Yemen talks Double Brit wins for Sheeran, Smith as Madonna tumbles Obama challenges 2016 candidates on immigration Scarlett Johansson took our name, band says Putin 'destabilizing' Ukraine, Kerry says Kazakhstan insists on objective investigation of Rakhat Aliyev's death Measles vaccination in Kazakhstan: safe or not? Bekman Soilybayev KOs Gomes at Fight Night MMA in California Samruk-Kazyna limits forex transactions of its subsidiaries Kazakhstani fighter Tleuov wins MMA tournament Hungary PM needs style change after poll setback: analysts Moody's downgrades ratings for scandal-hit Petrobras Russia confirms will use International Space Station till 2024 Nazarbayev summons meeting of Kazakhstan's Security Council Possibility of Nazarbayev, Putin, Lukashenko meeting discussed in Minsk Chris Brown says denied entry to Canada Sony Pictures names new head of movie group Obama vetoes Keystone pipeline bill Moscow lying 'to my face,' says Kerry Venezuela's ruling party targets new opposition leader Despite free album furor, U2 tops iTunes listening Iran nuclear deal 'is at hand': EU foreign policy chief Estonia shows off NATO ties at celebrations on Russian border New details of Aliyev's death emerge Vaccination against measles in Kazakhstan puts teenagers into hospital beds Fountain of Bakhchisarai to premier in Astana Opera in April Kazakhstan's biathlete wins silver at World Championship Kazakhstan's Aliyev received death threats in Austrian jail: media Could not keep Golovkin off and felt gutted: Murray after fight President Nazarbayev congratulates Golovkin on victory 5:0 Astana Arlans shutout victory over Argentina Condors Golovkin calls out Cotto for unification bout, Chavez bets $1 million on a KO Kazakhstan's Golovkin repeats Tyson's 19 KO record streak Chairman of Central Election Commission of Kazakhstan appointed USA, Kazakhstan sign deal on cooperation in criminal cases investigations Astana Opera to stage Romeo and Juliet for March holidays Kazakhstan's Rakhat Aliyev found dead in Austrian prison Nazarbayev appoints several ambassadors Kazakhstan's Constitutional Council to interpret early presidential elections idea 'Holy pig' festival draws thousands in Taiwan Russia talks up chances of Iran nuclear deal French president Hollande vows stiffer penalties for hate speech Australian PM Abbott accused of inciting ill-feeling West making little headway in Ukraine crisis: Lithuania FM 'Fifty Shades of Grey' stays on top at US box office Emboldened Obama embraces presidential power IMF approves 1.2 bn euro credit line for Serbia Google Wallet partners up to battle Apple Pay Taylor Swift officially world's top seller in 2014 Reuters Pakistan bureau chief dies in Islamabad

Kazakhstan's Kashagan tagged world's most expensive energy project

CNN Money has tagged gigantic Kashagan oil and gas field in Kazakhstan the most expensive energy project in the world. Its development has already absorbed $116 billion, which makes the project one of the most expensive discoveries of the last 40 years.

The field is located in Kazakhstan close to Atyrau city in the northern part of the Caspian Sea which makes oil transportation challenging. The logistics of the land locked area requires a network of railroad lines, pipelines and sea routes. Local sharp continental climate makes it a problem as well. The northern part of the Caspian Sea is covered with ice for almost 6 months of the year and because of shallow waters oil production requires construction of artificial islands. Temperatures in the area fluctuate from -40 degrees Centigrade in winter to 40 decrees Centigrade in summer. Ice drifts and ice scouring place heavy constraints on construction activities. High pressure in the oil bearing layers and high content of highly toxic and corrosive hydrogen sulphide (H2S) make extraction extremely complicated and technologically demanding.

Earlier Tengrinews.kz English reported that ConocoPhillips was intending to sell its stake in Kashagan project to Indian ONGC Videsh Limited. However, Kazakhstan Oil and Gas Minister Sauat Mynbayev declared that ConocoPhillips did not officially notify the Kazakhstan’s Government about this deal.

Kazakhstan independent oil analyst Olzhas Baidildinov believes that ONGC’s entry into the project is unlikely and the announcement is going to prompt China into action: “I believe that considering the escalation of conflict between China and India, ONGC is like a “red flag” to Chinese state corporations. I think that seeing ONGC’s offer, Chinese CNPC and CNOOC will be ready to overpay for this asset or will more willingly make concessions. Entry of Chinese state corporation into this project is more beneficial for Kazakhstan.

Commercial production at Kashagan is expected to start in December 2012-June 2013. Phase 1 of this project provides for production of around 370 thousand barrels of oil a day with a possible increase to 450 thousand barrels a day. Phase 2 will increase the production to 375 thousand barrels a day and keep it flat for at least 3 years.

The field was discovered in 2000 and was one of the larger discoveries in that decade. The field's commercial reserves are estimated to made from 9 billion barrels to 16 billion barrels of oil. The total geological reserves are estimated at 35 million barrels. The natural gas reserves are estimated at over 1 trillion cubic meters.

The consortium developing the field comprises Eni, Shell, ExxonMobil, Total and KazMunaiGaz (with a 16.81% stake each) as well as ConocoPhillips (8.4%) and Japan's Inpex (7.56%).

Here is the top 10 rating of the world's most expensive energy projects made by CNN Money:
1. Kashagan, Kazakhstan ($116 billion)
2. Gorgon, Australia ($57 billion)
3. Ichthys, Australia ($43 billion)
4. Bovanenkovskoye, Russia ($41 billion)
5. Australia Pacific LNG, Australia ($37 billion)
6. Wheatstone, Australia ($35 billion)
7. Queensland Curtis LNG, Australia ($34 billion)
8. Kearl, Canada ($33 billion)
9. GLNG, Australia ($30 billion)
10. Three Gorges Dam, China ($28 billion)
29 november 2012, 19:25
182 1
Поделиться:
Kazakhstan's Kashagan tagged world's most expensive energy project
http://en.tengrinews.kz/userdata/news_en/2012/news_14913/thumb_m/photo_22796.jpg
http://en.tengrinews.kz/industry_infrastructure/Kazakhstans-Kashagan-tagged-worlds-most-expensive-energy-14913/
Comments (1)
Old
New
Best
Add comment
Azmt 2012-12-04 13:40:07 0
Sharing agreement says project costs must be reimbursed by the country in crude oil to #NCOC.
Read more   Answer Answer
LOAD MORE 50
Write your comment
Please introduce yourself:
Inicate your e-mail (confirmation required):
You can also log in as:
Comment:
By pressing "Send" button, you express your agreement with the rules of comment section
Sea of candles marks 'magical' rally that shook Berlin Wall
Some 200,000 people joined a candlelight procession marking a watershed mass protest 25 years ago that helped bring down the Berlin Wall a month later.
3 977 0
The Eiffel Tower in numbers
The Eiffel Tower is the most visited monument in the world that charges for entrance. Here is a factfile on France's iconic building.
4 199 1
Berlin passion for 1940s fashion untempered by WWII hue
With her blotted red lipstick, perky coiffed curls and fitted 1940s skirt suit, Constanze Pelzer looks like she's stepped off a World War II film set. From head to toe, the 49-year-old German is the picture of 1940s elegance -- from the little glasses and striking jewellery to her red sling-backs, her entire outfit is authentic.
4 211 0
'Miracle' of the Marne: the WWI battle that changed history
At the start of September 1914, after just one month of war in Europe, the German army were at the gates of Paris. The word on the street was that Emperor Wilhelm II had already booked a dinner table on the Champs-Elysees.
4 251 0
Madagascar unleashes poisoned rain to break locust plague
The choppers swoop in, dumping insecticide over a plague-stricken village in Madagascar's stunning central highlands.
4 139 3
A day at the Met: opera for New Yorkers and the world
In a cramped backstage area at New York's Metropolitan Opera House, French mezzo-soprano Sophie Koch adjusts her 19th century dress.
14 739 1
Nazi past overshadows genius of Porsche
The name Porsche has long made sports car enthusiasts swoon but the Nazi past of the famous brand's founder has left his Czech hometown sorely divided over his legacy.
4 085 0
Paraguay group turns garbage into sweet melodies
Parents all over the world often complain about their children's music being garbage.
4 326 0
Most Read
Most Discussed
Today
Week
Month