Oil Output from Kashagan Exceeds 2 Million Tons

Over 2 million tons of oil and more than 1 billion cubic meters of gas have been produced at Kazakhstan's Kashagan field, Kazakh national oil and gas company KazMunaiGas, which is one of the shareholders of the project, said in a message. Oil production at Kashagan was launched in autumn 2016. 

Two gas re-injection compressors will be launched at the field in 2017 in order to increase the level of oil production to 370,000 barrels per day. 

Moreover, it is planned to implement a project on expansion of gas reinjection at the field which will insure further increase in output. The optimal concept for this project is being selected. 

Kashagan located in the north part of the Kazakh sector of the Caspian Sea is one of the biggest oil fields opened in the last 40 years. Its recoverable oil reserves are assessed at 9-13 billion barrels. 

Kazakhstan plans to produce 8.9 million tons of oil and 5.6 billion cubic meters of gas from this field in 2017. It is planned to increase production to 13 million tons of oil and 9 billion cubic meters of gas per year in subsequent years. 

The field is operated by North Caspian Operating Company BV (NCOC), with project participants being Shell Kazakhstan Development BV, KazMunaiGas Kashagan BV, AGIP Caspian Sea BV, CNPC Kazakhstan BV, Exxon Mobil Kazakhstan Inc, INPEX North Caspian Sea Ltd and Total E&P Kazakhstan.

Read full article at: Trend

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