ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

SHEL Shell Plc

2,907.00
12.00 (0.41%)
24 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Shell Plc LSE:SHEL London Ordinary Share GB00BP6MXD84 ORD EUR0.07
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  12.00 0.41% 2,907.00 2,905.50 2,906.50 2,922.00 2,901.00 2,912.00 21,763,778 16:35:08
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 316.62B 19.36B 2.9802 9.75 188.77B

Total: Kashagan Oil Field Won't Yield Much Output This Year

11/04/2014 2:42pm

Dow Jones News


Shell (LSE:SHEL)
Historical Stock Chart


From Apr 2019 to Apr 2024

Click Here for more Shell Charts.

PARIS-- Total SA doesn't expect the giant Kashagan oil field in Kazakhstan to yield much output this year, even if it resumes production at all, after a particularly tricky-to-fix gas leak forced the French company and its partners to stop production last October at great cost.

The companies are waiting for the results of analyses and ultrasound probes on the leaking pipeline to identify the problem and find ways to fix it, Total's president for exploration and production, Arnaud Breuillac, told reporters on the sidelines of an oil conference in Paris on Friday.

"For now, we are waiting for the analyses. If there were to be any production by the end of the year, it wouldn't be much," Mr. Breuillac said. The investigations on the technical problem at Kashagan is tricky as the area is still under a layer of ice, he said.

The partners--which include Exxon Mobil Corp., Royal Dutch Shell PLC, Italy's Eni SpA and Total--are eager to resume output to recoup some of the $50 billion they have invested in Kashagan over the past 17 years.

The Kazakh government is also heavily invested in Kashagan, having based its economic forecasts on revenue from the field, whose output was expected to increase to 370,000 barrels a day from 180,000 barrels a day initially.

Mr. Breuillac said he is confident the Kazakh authorities will remain patient with the project and that the companies involved are putting all their resources into "fixing the problem as soon as possible."

Geraldine Amiel and Selina Williams contributed to this article.

Write to Inti Landauro at inti.landauro@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


1 Year Shell Chart

1 Year Shell Chart

1 Month Shell Chart

1 Month Shell Chart

Your Recent History

Delayed Upgrade Clock