Financial Times FT.com

Kazakhstan reaches Kashagan accord with Eni-led consortium

By Ed Crooks In London and Isabel Gorst in Moscow

Published: January 14 2008 02:00 | Last updated: January 14 2008 02:00

Kazakhstan agreed a deal with an Eni-led consortium last night to develop the Kashagan oilfield.

The consortium - which includes ExxonMobil of the US, Royal Dutch Shell and Total of France - agreed to pay Kazakhstan $2.5bn-$4.5bn (£1.27bn- £2.29bn) in compensation for the project's late start.

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