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Article: Recession: A time bomb under a salt dome ring.
- Article from:
- Times of Central Asia
- Article date:
- November 14, 2008
CopyrightCOPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Charles van der Leeuw TCA contributor ALMATY, November 14 (TCA Editions) --- It is well known that in the former Soviet Union's Deep South, it is always tomorrow. But even given this, the timing has been dramatically erroneous in the case of the Kashagan block and its three adjacent blocks. Together, they represent Kazakhstan's first major offshore oil operation and it once more appears to be a born latecomer. If things would have been done according to the original schedule, Kazakhstan would have had an extra income in the order of at least 8 billion US dollars from mid-2007 till now thanks to peaking oil prices within that time span. Today, development costs remain ...