Now that the giant offshore Kashagan field has reached its Phase 1 production plateau, industry majors such as Italy’s Eni and Russia’s Lukoil are making concerted bids to im- plement new projects in Kazakhstan’s sector of the Caspian Sea (NC Mar.7’19). However, high infrastructure and de- velopment costs - Kashagan’s capital expenditures so far have surpassed $55 billion - remain a formidable deter- rent at a time when international majors are increasingly selective about where they invest.
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