Statoil abandons its Kazakh offshore project

    Last week, NC KazMunaiGas announced that a month ago, Statoil, its strategic partner in the Abai project, has made the decision to leave the Kazakh offshore block in the Caspian Sea. Initial negotiations to start exploration began in 2006. The Abai deposit was estimated to have 387m tonnes (2.9bn bbls)...