Almaty — Royal Dutch Shell abandoned two projects off Kazakhstan after stubbornly high costs made them uneconomic.

Shell has exited the Khazar field, while North Caspian Operating — a joint venture including Shell — has quit the Kalamkas-Sea project, according to TOO PSA, an entity run by the Kazakh energy ministry. The retreat from the fields — both in the Kashagan area — reflects an industry-wide push to cut break-even costs as mega-projects give way to smaller endeavours with quicker returns...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now