Editorial: Calling It Quits And Cashing In The Kashagan
Add bookmark
Hot on the heels of BP's announcement that it would have to inject billions of dollars to resurrect its declining Azeri-Chirag-Guneshli (ACG) assets in Azerbaijan, ConocoPhillips is now considering selling its 8.4 per cent stake in Kazakhstan’s 38 billion barrel Kashagan field.
This news further compounds a difficult year for IOCs in the Central Asian oil arena. With many National Oil Companies now seeking to renegotiate deals with foreign partners for higher profits and impose stringent local content targets, it is unlikely these issues will abate any time soon.
Just a little further up the Ural Mountain trail, and the Russian Federation announced that it produced an average of 10.41 million bpd for the month of September, a post-Soviet record. Four weeks out from the US election, the Russian Bear is roaring loudly.
Read more Oil & Gas Analysis in our Notes from the Editor
LEARN MORE:
- The Top 10 Oil & Gas Companies in the World
- 50 Oil & Gas People You NEED To Follow On Twitter
- Oil & Gas Industry: An Introduction
- Oil and Gas Production - An Introduction
- Oil and Gas Technology: The Future Is Now
-
FPSO Resource Centre: Introduction to Floating Production Storage and Offloading
|
Have Your Say Rate this feature and give us your feedback in the comments section below |
