A CNOOC spokesman said he was unaware of Shell's plans and declined to comment on the pre-emptive positions of the other stakeholders. Sinopec and CNOOC agreed earlier this year to each pay BG $615 million for the respective stakes. The deadline for Shell to exercise its pre-emptive rights is May 9 for the CNOOC deal and May 17 for Sinopec's deal.
The Kazakh project includes the Kashagan field, which covers about 2,162 square miles and has estimated recoverable reserves of up to 13 billion boe. The other partners, ENI Agip, ExxonMobil and TotalFinaElf, each hold a 16.67% interest, and ConocoPhillips and Inpex each hold 8.33%.
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