Press Release: Energy Commissioner Andris Piebalgs welcomes the resolution of the Kashagan oil field dispute

Energy Commissioner, Andris Piebalgs, welcomed on 16 January, 2008, the fact that an agreement has been reached between the members of the Kashagan consortium and the authorities of Kazakhstan. The resolution of this dispute will allow the development of the Kashagan oil field, the largest oil discovery in more than 30 years, to proceed at the quickest pace possible (with the production stream to come on line by 2011). Such progress should also help to ease world energy markets at a time of sharply increasing energy demand.