ONGC Videsh buys Kashagan entry ticket

A general view of an artificial island on Kashagan offshore oil field in the Caspian sea, western Kazakhstan August 11, 2009. For the oil industry Kashagan, the world's biggest discovery since 1968 with reserves locked amid lethal, high-pressure gases beneath the north Caspian Sea, is a challenge of biblical proportions. Picture taken August 11, 2009. To match feature KAZAKHSTAN-KASHAGAN/ REUTERS/Shamil Zhumatov (KAZAKHSTAN ENERGY BUSINESS POLITICS)

Under development: the Kashaghan oilfield

India’s ONGC Videsh has agreed a $5 billion deal to acquire ConocoPhillips’ stake in the Kashagan oilfield project in the Caspian Sea off Kazakhstan.

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