“We are discussing with our partners measures for reducing the project cost and optimising it. The decision should be made this year,” said Kazak Energy Minister Vladimir Shkolnik.
TCO last autumn won government approval for a $40 billion expansion plan to raise output capacity by 240,000 barrels per day to 770,000 bpd. Reservations about a near-doubling of costs were set aside, but oil prices continued to plunge in subsequent months.
Chevron
