Oil output at Kazakh Kashagan field to be resumed in autumn Energy

Oil output at Kazakh Kashagan field to be resumed in autumn


Oil output at Kazakhstan's Kashagan field should start in October 2016.

Kazakhstan's Prime Minister Karim Massimov gave the relevant instruction to the country's Energy Minister Kanat Bozumbayev and KazMunaiGas national company during the government's meeting on June 14, Kazakh PM's website reported.

"All the necessary negotiations have been held and the necessary regulatory decisions have been made," said Massimov. "Therefore, you, together with the consortium need to bring all this to a logical conclusion in order to launch output in Kashagan in October."

Kashagan is a large oil and gas field in Kazakhstan, located in the north of the Caspian Sea.

The geological reserves of Kashagan are estimated at 4.8 billion tons of oil. The total oil reserves amount to 38 billion barrels; some 10 billion out of them are recoverable reserves. There are large natural gas reserves at the Kashagan field - over one trillion cubic meters.

The production at the Kashagan field started in September 2013, but in October, it was suspended after a gas leak in one of the main pipelines.

Earlier, the country's energy ministry said the repair and restoration work at the Kazakh oil field Kashagan are being performed slightly ahead of plan.


source: trend

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