Kazakhstan’s legal battle against international oil majors involved in the Kashagan oil field has intensified, with the nation’s claims now exceeding $160 billion. The dispute centers around allegations of corrupt deals and financial mismanagement, adding another $10 billion to the already massive demands. The Kashagan project, a massive offshore field in the Caspian Sea, has been plagued by delays and cost overruns since its inception over two decades ago.
The Kashagan field, discovered in the late 1990s, was hailed as one of the largest oil finds in recent history. However, its development has been anything but smooth. Technical challenges, including harsh environmental conditions and high concentrations of hydrogen sulfide in the reservoir, have plagued the project from the start. The concentration of hydrogen sulfide straight out of the well is estimated at 17%—a level at which even just a few breaths can be lethal.
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: OilandEnergy - 🏆 34. / 68 Read more »