Shell Pulls Out of Kalamkas-Khazar Project in Kazakhstan
October 21 2019 - 9:32AM
Dow Jones News
By Oliver Griffin
Royal Dutch Shell PLC (RDSB.LN) confirmed in an email on Monday
that it and other shareholders have pulled out of the
Kalamkas-Khazar project in Kazakhstan.
The integrated oil-and-gas company, which had held a 16.81%
stake in the NCOC NV consortium, said it decided the project wasn't
competitive enough compared with the other opportunities in its
global portfolio.
The company said it remains one of the largest investors in
Kazakhstan and looks forward to developing future projects in the
country.
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
October 21, 2019 09:17 ET (13:17 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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