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Kashagan Oil Field Dispute Solved

Strictly speaking, the operating company is being changed. There'll be a new operating company, to be formed by...

Italian oil major Eni SpA will share its operator status of Kashagan oil field with all other members of the consortium, Kazakh energy and mineral resources minister Sauat Mynbayev said.

Mynbayev added that a new operating company is going to be etsablished.

"Strictly speaking, the operating company is being changed. There'll be a new operating company, to be formed by all members of the consortium. Eni will be responsible for bringing the pilot development phase to its completion," Mynbayev said.

Until now, the consortium has comprised Eni, Total, Royal Dutch Shell and Exxon Mobil, each with an 18.52 pct stake. Other members are ConocoPhillips, with 9.26 pct, Inpex, with 8.33 pct, and the Kazakh national oil and gas company Kazmunaigaz, with 8.33 pct.