Azerbaijan, Baku, 28 August / Trend / The target date for first oil extraction from the US$136 billion Kashagan oil field in Kazakhstan has been set at October 2013, the International Oil Daily (IOD) newsletter said today.
Speaking to the IOD about its interim results yesterday, Petrofac's Chief Executive, Ayman Asfari said that the on shore construction activities it is responsible for at the Kashagan development have "gone extremely well" and that the Company had "total clarity now on the revised budget and timescale."
Petrofac is building Kashagan's onshore oil, gas, liquefied petroleum gas (LPG) and sulfur treatment plants. The consortium dealing with the Kashagan field development is led by the Italian oil company Eni and includes Shell, ExxonMobil, Total, ConocoPhillips, Japanese Inpex and Kazmunaygaz. Part of the oil from the field will be transported through Baku-Tbilisi-Ceyhan.