13 октября 2014 14:17

Kashagan project cost may rise again

Kashagan ©REUTERS

The cost of Kashagan project may rise once more, this time by $4 billion, Astana TV Channel reports citing the Financial Times.

According to FT, this is the amount needed to replace the old leaking pipes with new corrosion-resistant pipeline. The need to reconstruct the 200km pipeline adds to the project that has already become the most expensive oil project in the world, costing $50 billion so far.

Oil production at the field began on September 11, 2013. However, on September 24, a gas leakage was discovered during a routine inspection of the pipeline and the production was suspended. It was resumed shortly after, but another leakage detected in October brought the production to its present halt.

Oil CIS Energy field gas Kashagan Kazakh Kazakhstan leak news Central Asia

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