Eni, through its affiliate "Agip Caspian Sea B.V.", has been appointed Single Operator of the "North Caspian Sea" Project's Production Sharing Agreement.
Last summer, the Joint Venture comprising Eni, Shell, TotalFinaElf, ExxonMobil, BG, BP, Statoil, Inpex and Phillips Petroleum, had announced an interesting hydrocarbon discovery in this area Offshore Kazakhstan, made on the "Kashagan" structure located some 70 km south-east of Atyrau.
So far, the "North Caspian Sea" Project has been conducted by a Joint Operating Company (OKIOC), made up of all the Joint Venture Companies.
The appointment of Eni as the Single Operator of the Contract area is the outcome of a selection process within the Venture group, which resulted in the Italian Company's successful qualification.
The Contract Area is made up of 11 blocks in the Kazakh North Caspian Sea, covering more than 5,500 SqKm, in water-depth ranging from 2 to 10 meters. The second exploration well is currently being drilling on the "Kashagan" structure, located some 40 Km away from the first.
Considering the hydrocarbon potential of the existing structures and the area's challenging technological and operational aspects, mainly due to a context of shallow waters and icy weather conditions for about six months of the year, the "North Caspian Sea" Project constitutes an industrial venture of major importance.
Fully aware of operating in a highly sensitive environment, Eni will adopt the most advanced technologies and work methodologies in order to ensure the highest level of safety and environmental protection in the North Caspian area
Source: E.N.I.COM
© 2001 Mena Report (www.menareport.com)
