The Kazakhstan government is set to approve within months a new concept for the further development of the giant offshore Kashagan project, where production is eventually seen hitting 500,000 barrels per day of oil.
Partners in the North Caspian Operating Company (NCOC) consortium, which operates the field, recently scrapped plans for a $5 billion gas compression and re-injection scheme in favour of a less costly plan to increase raw gas injection at the field.
