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Kazakh Energy Minister sees no reasons for suspending Kashagan project over environmental claims

Kazakhstan’s Minister of Energy and Mineral Resources, Mr. Sauat Mynbaev, sees no reasons for putting the Kashagan project on halt over the claims of environmental and emergency authorities, the Embassy of Kazakhstan reports referring to the Interfax-Kazakhstan news agency.

Category: Economy
Posted by: admin

“Claims were put forward by environmental authorities and the emergency agency. In terms of environmental requirements, the Ministry for Environmental Protection and the consortium will probably reach an agreement and sign a certain memorandum. The consortium has agreed with some requirements and now it is in the process of addressing the matters in question. We see no reason to suspend the project over environmental issues”, he said at a press conference on October 2 in Astana.

But he stressed that Kazakhstan certainly does not accept the plan and the budget for development of the field suggested by the consortium.

"We see no progress in talks on the plan and the budget. The main negotiation is still ahead. There is no way Kazakhstan will approve of the current plan and the budget," Mynbaev said. He also said that "this awkward situation can’t be drawing on forever. Kazakhstan and the consortium have to make certain steps.”

He also said that due to the delay in the oil production on the Kashagan field adjustments would be made to the oil production plan for Kazakhstan’s Caspian Shelf Development 2015. "Adjustments will pertain to Kashagan oil production estimates," Mynbaev said.

He stressed, however, that the Kashagan situation should not be viewed as a campaign for revising earlier concluded contracts with subsoil users. "The government has a right to raise the issue of revising those contracts that are being violated, but it is not a general stance of the Government,” he emphasized.