In Kazakhstan, Progress at Last in a Major Oil Project

Kazakhstan's major oil project, Kashagan, is seeing its first positive steps toward production, but it is still unclear if the project can meet the government's timetable. The North Caspian Operating Co., which operates Kashagan, said Sept. 11 that the project had produced its first barrels of oil after years of delays and price overruns. It is important for the North Caspian Operating Co. to start significant production at Kashagan because the government's budget over the next three years is based on increased oil revenue from the project.