Second and third phase of the Kashagan development to start on time

Oil&Gas Materials 18 June 2012 16:00 (UTC +04:00)

Kazakhstan, Astana, June 18 /Trend D.Mukhtarov/

The second and third phase of the Kashagan development will start on time, deputy chairman of the board of KazMunaiGas on Geology and Promising Projects Kurmangazy Iskaziyev said.

"The beginning of the second and third phases of Kashagan will be held on time," Iskaziyev said at second International Oil and Gas Conference Development of the Caspian shelf, held in Astana, with the support of the KAZENERGY Association.

Speaking at the conference, director of external relations at the North Caspian Operating Company (NCOC), Pierre Delpon informed delegates about the concept of the exploration and development prospects of the North-Caspian project.

He noted that members of the consortium for the North-Caspian project (Kashagan) and the Ministry of Oil and Gas of Kazakhstan reached an agreement on amendment 4 to the plan and budget of Kashagan development.

"The consortium is still planning to start commercial production of oil by the end of 2012. Phase I of the project is nearing completion and the project is being prepared for commissioning. In January 2012 the number of hours worked will be made up of over one million, with no accidents," the NCOC representative said.

"As for the second phase of the project, we are now at the stage of the analysis of the concept in order to improve its economic viability, both for Kazakhstan and for the consortium. We plan to complete the elaboration of this concept this year, align it with the government of Kazakhstan and start the stage of pre-engineering design for this phase of the project later," Pierre Delpon said.

He said a final investment decision on the second phase will be taken at the end of the design work.