JSC NC, KazMunaiGaz, and the Kashagan consortium members have launched an initiative to reduce the cost to develop the Kashagan oil field.
The global economic crisis has had a significant impact on the world market, which, in turn, to some extent reflected in the respective obligations of the project participants. Therefore, under this initiative the company will take necessary efforts to bring existing contracts into compliance with new conditions.
It was expected that these solutions will enable the Republic of Kazakhstan and the parties Kashagan consortium significantly reduce project costs, while adhering to the approved phases of development and the agreed time-frame for the start of oil production on the field.
