日期:2014-10-13 19:25



Oil firms in Kazakhstan


Cash all gone


One of the world's biggest oil projects has become a fiasco


WHEN it was discovered in 2000, the Kashagan oilfield in Kazakhstan's waters in the northern Caspian Sea was the world's biggest oil find in three decades. By now it was supposed to be pumping out 1.2m barrels a day (mbd), enough to meet Spain's entire consumption. But the project, whose name sounds unfortunately like “cash all gone”, went spectacularly awry. A year ago, when the first trickle of crude briefly flowed, it was already eight years behind schedule. Having cost 43 billion, it was 30 billion over budget. And production lasted only a few weeks before leaks of poisonous gas forced its suspension. Earlier this month a government minister admitted it would not restart until at least 2016.


Undeterred by the Kashagan fiasco, this week the government said it would approve a plan to expand the onshore Tengiz oilfield, another huge budget-buster. Tengiz was first expected to cost 23 billion but the government said this week that the bill had risen to 40 billion.


Each of the two oilfields is owned by a different consortium of foreign firms and the state oil company, KazMunaiGaz. In Kashagan's case they include Exxon, Shell, Total and ENI. In part the project's setbacks are due to unexpected technical problems. Corrosive and poisonous hydrogen sulphide gas, pumped up from the seabed along with the oil, has eaten through pipes bringing it onshore. It may cost another 5 billion to fix the problem. But insiders say privately that with so many companies involved, the project has lacked clear leadership and suffered from government meddling.'


Investors of all kinds worry about “the declining predictability of Kazakhstan's regulatory and legal environment”, says Mariyam Zhumadil of Halyk Finance, an investment bank in the commercial capital, Almaty. In 2010 the government filed a 1.2 billion tax claim against the consortium that operates another field, Karachaganak, while making noises about breaches of environmental rules, not long after expressing an interest in buying a stake in the field. Later the consortium gave it 10% in return for it agreeing to expand the field.

各类投资者担心“哈萨克斯坦监管和法律环境的可预测性的不断下降”,纳鲁克金融公司的Mariyam Zhumadil这样说道,这家公司是设立在商业中心阿拉木图的一家投资银行。2010年,政府向运作另一个油田项目——Karachaganak的外国财团提出12亿美元的税收索赔,并鼓噪其违反了环保规定,但是不久之后又表达了入股的意愿。后来财团给它以10%的股份来换取政府对其扩大领域的批准。

Likewise, at Kashagan, environmental officials have fined the field's operators 737m for burning off the poisonous gas, which the consortium argues was an emergency measure. Ms Zhumadil reckons the fine is a “tool for future negotiations, perhaps to strengthen the national oil company's presence in the project.” This may not be the best way to encourage foreign firms to pump in the tens of billions of dollars more that are still needed to develop Kazakhstan's oilfields.




1.suppose to 认为是

It is suppose to be working now but it remains like a log.


I suppose to a lesser literacy skill of being a good listener or viewer and have information push condensed.


2.rise to 上升到;升迁

The yield of rice will rise to 700 kilograms per mu.


After a few years of faithful service,she rose to head nurse.


3.due to a. 由于;应归于

Due to the internal rebellion within the army.


The traffic accident was allegedly due to negligence.


4.pump up 用泵把…抽上来;热切期望

But you can see the problem with these efforts to pump up the growth rate, can't you?


While the feds pump up prices worldwide, the average fellow in America or Europe is unable to keep up.


  • unexpectedadj. 想不到的,意外的
  • encouragevt. 鼓励,促进,支持
  • approvev. 批准,赞成,同意,称许
  • literacyn. 识字,读写能力
  • viewern. 观看者,电视观众,观察器
  • internaladj. 国内的,内在的,身体内部的
  • legaladj. 法律的,合法的,法定的
  • strengthenv. 加强,变坚固
  • poisonousadj. 有毒的,恶意的
  • yieldn. 生产量,投资收益 v. 生产,屈服,投降,弯下去,