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Article: Kazakhstan: UPDATE 1-Conoco, Mubadala Kazakh JV may hit 3 mln bpd.
- Article from:
- TendersInfo
- Article date:
- November 11, 2009
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Byline: manish03
Abu Dhabi investment vehicle Mubadala's joint-venture with ConocoPhillips (COP.N) to develop an offshore oilfield in Kazakhstan could produce up to 3 million barrels per day in three to four years, a top executive said on Tuesday.
"We could produce 1.5 million barrels per day (bpd) to three million barrels per day in three to four years if our drilling is successful," said Maurizio La Noce, chief executive of oil and gas at the government owned investment fund during a MEED industry conference.
ConocoPhillips and Mubadala signed a preliminary agreement last October, and then paid Kazakhstan a $100 million signing bonus a few ...