Oil transportation routs from Kazakh Kashagan field should be defined in near future
Azerbaijan, Baku, April 26 / Trend E. Kosolapova/
The head of Kazakh Sovereign Wealth Fund Samruk-Kazyna Umirzak Shukeyev urged to define the routs of oil transportation from Kashagan field in the near future, Samruk-Kazyna reported on Thursday.
"Oil transportation from Kashagan field is the main issue of the North-Caspian project. As we plan to start oil production at this field this year, it is necessary to clearly define the routs of its transportation to the market in the near future," Shukeyev said at the meeting with the leadership of KazMunaiGas group of companies following the visit to oil and gas facilities in Kazakh Atyrau region.
Kashagan is a super giant gas field in Kazakhstan located in northern Caspian Sea. According to Kazakh geologists, the reserves are estimated at 4.8 billion tons of oil. As head of the Sovereign Wealth Fund Samruk-Kazyna Umirzak Shukeyev said earlier, Kazakhstan intends to get the first oil from the Kashagan field by late 2012. Up to 50 million tons of oil will be extracted in the first stage of experimental-industrial development in the field annually. Oil export from the field can be doubled in the second phase scheduled for 2018 -2019.
Kashagan project partner-companies are Eni, KMG Kashagan BV, Total, ExxonMobil, Royal Dutch Shell having approximately 16.81 percent stake, ConocoPhillips - 8,4 percent, and Inpex - 7,56 percent. The project is being developed by the NCOC consortium.