BAKU, Azerbaijan, Mar. 17
By Nargiz Sadikhova - Trend:
North Caspian Operating Company which operates Kazakhstan’s Kashagan major oil and gas field is working on measures to increase production, North Caspian Operating Company (NCOC) told Trend.
The company said that in 2023 it is planning to increase production by launching the 1BCMA (1 Billion Cubic Meter per Annum) Gas Plant project, (executed by the third party).
“The launch of the plant will take us to a capacity of around 450,000 barrels a day,” the company said.
The company added that NCOC and KazTransGas (KTG) have reached and signed an Agreement.
“Within the agreement, NCOC will supply approximately 1 billion cubic meters per year (1 BCMA) of Kashagan sour gas and KTG will process this sour gas to sales gas quality at the new facility,” the company added.
The North Caspian Project is the first major offshore oil and gas development in Kazakhstan. It covers three fields: Kashagan, Kairan, and Aktoty.
The Kashagan field is one of the three largest oil fields located in the northern part of the Kazakh sector of the Caspian Sea. Its recoverable reserves reach approximately 9-13 billion barrels (1-2 billion tons) of oil.
The first commercial oil production started at Kashagan in 2016. The project operator North Caspian Operating Company (NCOC) shipped the first million tons of oil for export in early 2017. NCOC has reached a record-breaking volume of oil extraction at the field (390,000-400,000 barrels a day) in 2019.
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