NCOC Striving to Ramp up to Kashagan full Production Capacity Fast
North Caspian Operating Company is exploring options for reaching the full production capacity at Kashagan earlier than planned, NCOC Managing Director Bruno Jardin said.
"NCOC aims to reach the full production capacity of 370,000 barrels per day and is exploring options to speed up the process," Bruno Jardin said at a meeting of the Energy Ministry’s Board on Friday in Astana.
He noted that the production growth is being maintained. "I’ve said earlier that we intend to keep the portfolio of projects full through meeting our commitments under Kalamkas and Aktoty agreements and implementing future stages of the Kashagan development project," he added.
Energy Minister Kanat Bozumbayev hails NCOC’s growth plans. "Kashagan is operating ahead of the oil production schedule. It’s a very good result, if Kashagan flow rate is 300,000 barrels today. If it starts producing 70,000 bpd more before the end of the year, or 370,000, it will reach its full capacity much faster, " Bozumbayev told reports after the board.
Kashagan production target for 2018 is set at 10.8 million tons of oil, as compared to 8.35 million tons produced in 2017. Kashagan is Kazakhstan’s first offshore oil and gas field in the Caspian Sea. It is the largest international investment project in the country. The commercial oil production at the Kashagan resumed on November 1, 2016.
Read full article at Interfax