The Eni SpA-led consortium (E) developing the giant Kashagan oil field in the Caspian Sea proposes to postpone the start of production to 2012-2013 from 2011, Kazakh Energy Minister Sauat Mynbayev was quoted by Interfax news agency as saying Monday.
"They (foreign oil companies in the consortium) want to postpone (the start of production)," Mynbayev was quoted as saying, adding that 2012 and 2013 were being considered as possible years for the start of production at Kashagan.
Mynbayev said, according to Interfax, that the Kazakh government would want to sanction the consortium should the delay occur.
"We're trying to come to an agreement again," Mynbayev said.
The Kashagan consortium also includes Total SA (TOT), Exxon Mobil Corp. (XOM) and Royal Dutch Shell PLC (RDSB.LN). The consortium is in talks with the government of the Central Asian country over a new development plan following the agreement for Kazakh state energy firm Kazmunaigas to double its stake in the project.