Azernews.Az

By Trend

Oil production at Kazakh Kashagan oil and gas field will be resumed on October 23, Kazakh Acting Energy Minister Kanat Bozumbayev said, Novosti-Kazakhstan news agency reported.

"The official launch of Kashagan is scheduled for Oct. 23,” Bozumbayev told reporters.

Commercial production in the amount of 75,000 barrels per day at Kashagan field is expected to be reached in Nov., he said.

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.

North Caspian Operating Company BV (NCOC) consortium is engaged in developing the project. Currently, the shareholders are: KMG Kashagan BV (16.88 percent), AGIP Caspian Sea BV (nearly 16.81 percent), Exxon Mobil Kazakhstan Inc. (nearly 16.81 percent), Shell Kazakhstan Development BV (nearly 16.81 percent), Total E&P Kazakhstan (nearly 16.81 percent), INPEX North Caspian Sea Ltd. (7.56 percent) and CNPC Kazakhstan BV (8.33 percent).

---

Follow us on Twitter @AzerNewsAz