During the talks with Kazakhstan’s President Nursultan Nazarbayev, Paolo Scaroni, Eni Chief Executive Officer and General Manager, promised the first oil from Kashagan in 2012, Tengrinews.kz reports, citing the President’s official website.
“During the talks with Mr. President we discussed status of all the projects, including Kashagan which has seen substantial progress. In this project the first oil is expected in December 2012 or two-three months later than that”, Paolo Scaroni told a briefing.
According to him, the field is going to be further developed to boost gas production output. “We have discussed the status of the agreement between Eni and KazMunaiGas. The agreement covers a number of directions – oil processing, gas processing, construction projects at the Caspian Sea. The President supports us in all the directions”, the President’s Press-Service quoted Mr. Scaroni as saying.
The Kashagan field, named after a 19th century Kazakh poet from Mangistau, is one of the world's largest oil discoveries of the last forty years.
Given its size and technical complexity, the Kashagan field will be developed in phases. Phase I, known as the Experimental Programme or EP, is already in the construction phase.
The consortium developing the field comprises Eni, Shell, ExxonMobil, Total and KazMunaiGaz (all with a 16.81% stake) as well as ConocoPhillips (8.4%) and Japan's Inpex (7.56%).