Minneft and gas of Kazakhstan has not yet approved the concept of the second phase of the Kashagan

/IRBIS, January 31, 2011/ - The Ministry of Oil and Gas of the Republic of Kazakhstan has not yet approved the concept of the second phase of the development of oil and gas field Kashagan, today announced Mr. Sauat Mynbayev the head of department on board. "While the authority may not approve the contractor by virtue of its concept is not effective. We're not going to argue ineffective from an economic point of view, the phase is not an economical project", - said Mr. S. Mynbayev. "Now on Kashagan we are at the stage of the so-called experimental- industrial development, the same terms - 2012-2013 years" - he said. "Operational management issues are many, but they can be solved in due course. We hope to get the first oil within a specified earlier date," - noted the Minister. Operator of the North Caspian project, which includes and Kashagan, is currently serving North Caspian Operating Company (NCOC), which shareholders are Agip Caspian Sea BV (16.81%), KMG Kashagan B.V. (16.81%), Conocophillips North Caspian Ltd. (8.4%), ExxonMobil Kazakhstan Inc. (16.81%), Inpex North Caspian Sea Ltd. (7.56%), Shell Kazakhstan Development B.V. (16.81%) and Total E & P Kazakhstan (16.81%). [2011-01-31]