About 100,000 foreign specialists required for second phase of Kazakh oil projects
Kazakhstan, Astana, April 24 / Trend D. Mukhtarov /
About 100,000 specialists are required for the second phase of the Kashagan and Karachaganak oil fields, chairman of the Kazakh Union of Service Companies Almas Kudaibergen said today.
"According to some foreign recruitment agencies, about 100,000 foreign specialists are planned to be attracted to implement the second phase of Kashagan, as well as the projects of expanding Tengizchevroil and Karachaganak, he said.
According to preliminary calculations, each foreigner will work for one year with an average salary of $15,000 a month. The above-mentioned specialists can take out about $15-20 billion from the country for seven to nine years.
The Kashagan field is located in the north of the Caspian Sea. Geological reserves are estimated at 4.8 billion tons of oil, according to Kazakh geologists. According to the project operator, the total oil reserves hit 38 billion barrels, or six billion tons, of which about 10 billion barrels are recoverable. Kashagan has the largest natural gas reserves at more than one trillion cubic meters.
Launching oil production at Kashagan has been delayed several times. A consortium of foreign companies led by Italy's Eni initially promised to ensure commercial production in 2008.
According to KMG, the company plans to invest $8 billion in the Kashagan project until 2014 with a total sum of the company's investments worth $ 20 billion in various projects in the same period.
While agreeing the date of postponing commercial production, Kazakhstan increased its stake in the project from eight per cent to 16.8 per cent and achieved royalty payments not indicated in the original agreement. Another memorandum was signed in late June 2008. The date of commercial oil production at the Kashagan field on the shelf of the Caspian Sea was postponed till 2013.