Eni Could Lose Control of Kashagan Oil Field

Italian energy company Eni SpA may lose control of Kashagan, the world's biggest oil discovery in 30 years, after the Kazakh government announced that project costs have doubled to $136bn.

According to US reports the Kazakh Government is disappointed with the execution of the project after Eni, Italy's largest oil company, postponed the start of production from 2008 to 2010.

Eni who has not commented on the reports leads a consortium including Total, Shell, ExxonMobil, ConocoPhillips and Inex.

Reported by staff writer