Kazakhstan and Eni discuss prospects of cooperation
ASTANA. June 29 (Interfax) - President of Kazakhstan Nursultan Nazarbayev met with Eni CEO Claudio Descalzi in Milan, the president's press office says in a press release.
The sides discussed the current issues relating to Eni's operations in Kazakhstan and prospects of cooperation with the company in the Kazakh oil and gas industry, the press release says.
The sides also agreed that more coordination and liaison was required in the framework of the Kashagan project.
The subsidiary of Eni, Agip KCO, is the agent of NCOC (the operator of the Kashagan field) and is responsible for completing the first stage of Kashagan's development. The company is also responsible for the implementation of an onshore complex for the second stage of the field's development.
Kashagan is developed by NCOC, which is owned by Eni's subsidiary, AgipCaspian Sea B.V., (16.81%), KMG Kashagan B.V. (16.88%), ExxonMobil Kazakhstan Inc. (16.81%), Inpex NorthCaspian Sea Ltd. (7.56%), Shell Kazakhstan Development B.V. (16.81%), Total EP Kazakhstan (16.81%) and CNPC Kazakhstan B.V. (8.33%).
The recoverable resources of the Kashagan field are estimated at 11 billion barrels and oil in place at nearly 35 billion barrels. Kashagan is considered to be the second largest oil field in the world following Prudhoe Bay Oil Field in Alaska, which was opened in 1968.
Eni also owns a 29.25% stake in Karachaganak Petroleum Operating B.V., the operator of the Karachaganak oil and gas condensate field in west Kazakhstan.