Kazakhstan, Astana, Oct. 9 / Trend S.Suleymanov /
The Kazakh National Company KazMunaiGas (KMG) is in talks with potential sponsors of the Baku-Black Sea project, KMG CEO Kairgeldy Kabyldin said On Oct.8.
Kabyldin said the Kazakhstan Caspian Transportation System (KCTS) consists of three segments: the Kazakh Eskene-Kurik pipeline, Trans-Caspian System and the Baku-Black Sea.
"The KCTS has completed certain work on all three segments. We already have a front-engineering on the Kazakh pipeline, we ordered a feasibility study on the Trans-Caspian System together with Azerbaijani counterparts from SOCAR and, as I said, we are in talks with potential sponsors on the Baku-Black Sea," Kabyldin said.
He said the KCTS will be claimed not earlier than begging of the second phase of development of the Kashagan field, when oil production from the field will reach 750,000 barrels per day.
"The existing export capacities will be enough for the volume of the Kashagan oil in the first phase, as it will give 370,000 barrels per day," Kabyldin said.
Today the capacity of the existing export routes (about 60 million tons of oil annually) is enough to carry oil from the first phase of development of the Kashagan field.
"Most of the Kashagan project participants believe the KCTS would only be needed at the design stage of the second phase of the deposit. Therefore, it should be built for 2018 - 2019 years" he said.
Kabyldin also answered a question regarding the Trans-Caspian gas project.