2014年经济学人 哈萨克斯坦的石油企业

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 awry¹. A year ago, when the first trickle² of crude briefly³ 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. Corrosive⁴ 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 privately⁵ that with so many companies involved, the project has lacked clear leadership and suffered from government meddling⁶.'

Investors⁷ 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 breaches⁸ 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.

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 negotiations⁹, 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 awry   

adj.扭曲的，错的

参考例句：

• She was in a fury over a plan that had gone awry. 计划出了问题，她很愤怒。
• Something has gone awry in our plans.我们的计划出差错了。

2 trickle   

vi.淌，滴，流出，慢慢移动，逐渐消散

参考例句：

• The stream has thinned down to a mere trickle.这条小河变成细流了。
• The flood of cars has now slowed to a trickle.汹涌的车流现在已经变得稀稀拉拉。

3 briefly   

adv.简单地，简短地

参考例句：

• I want to touch briefly on another aspect of the problem.我想简单地谈一下这个问题的另一方面。
• He was kidnapped and briefly detained by a terrorist group.他被一个恐怖组织绑架并短暂拘禁。

4 corrosive   

adj.腐蚀性的；有害的；恶毒的

参考例句：

• Many highly corrosive substances are used in the nuclear industry.核工业使用许多腐蚀性很强的物质。
• Many highly corrosive substances are used in the nuclear industry.核工业使用许多腐蚀性很强的物质。

5 privately   

adv.以私人的身份，悄悄地，私下地

参考例句：

• Some ministers admit privately that unemployment could continue to rise.一些部长私下承认失业率可能继续升高。
• The man privately admits that his motive is profits.那人私下承认他的动机是为了牟利。

6 meddling   

v.干涉，干预（他人事务）( meddle的现在分词 )

参考例句：

• He denounced all "meddling" attempts to promote a negotiation. 他斥责了一切“干预”促成谈判的企图。 来自辞典例句
• They liked this field because it was never visited by meddling strangers. 她们喜欢这块田野，因为好事的陌生人从来不到那里去。 来自辞典例句

7 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

8 breaches   

破坏( breach的名词复数 )； 破裂； 缺口； 违背

参考例句：

• He imposed heavy penalties for breaches of oath or pledges. 他对违反誓言和保证的行为给予严厉的惩罚。
• This renders all breaches of morality before marriage very uncommon. 这样一来，婚前败坏道德的事就少见了。

9 negotiations   

协商( negotiation的名词复数 )； 谈判； 完成（难事）； 通过

参考例句：

• negotiations for a durable peace 为持久和平而进行的谈判
• Negotiations have failed to establish any middle ground. 谈判未能达成任何妥协。