Kashagan Decision Delayed

By The Moscow Times

May 21, 2013

Kazakhstan will decide by early July whether to take up an option to buy ConocoPhillips' stake in the Kashagan oilfield, which has drawn interest from China and India.

"[The state commission's] decision will be made by July 2," Kazakh Oil & Gas Minister Sauat Mynbayev said on Wednesday.

Kashagan, the world's biggest oilfield discovery in more than 40 years, holds an estimated 30 billion barrels of oil-in-place, of which 8 billion to 12 billion barrels are potentially recoverable, with first production expected in the middle of this year.

The government has a right to buy the 8.4 percent stake held by the U.S. firm as part of an international consortium developing the field, and if it does not, to decide on a buyer.

(Reuters)

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue