Kazakhstan, Astana, Sept 1 /Trend D.Mukhtarov/
It is planned to start production of about 75,000 barrels a day from Kashagan, chairman of the Board of JSC KazMunaiGas Lazzat Kiinov said.
"It is planned to reach 350,000 barrels of oil per day in the first phase of the field development, and possibly bring it to 450,000 barrels," Kiinov said in an interview to Kazakh edition of Liter.
Kiinov also noted that North Caspian Operating Company (NCOC - a consortium that is developing the Kashagan) will finance the share of KazMunaiGas investment in the Kashagan in the amount of $986 million in 2012-2013.
He recalled that the consortium NCOC really appealed to the Ministry of Oil and Gas of Kazakhstan for permission to increase the budget for the pilot development of the Kashagan field from the previously mentioned $38.6 billion to $46.3 billion.
"In the case of this increase in cost of the project, we plan to raise a loan in the amount corresponding to our share in the project, from the contractors. This question is part of the negotiation process between the competent authority and the project participants that have applied to increase the budget experience" Kiinov said.
He noted that, respectively, it is assumed that the authorized agency won't approve this increase without providing adequate funding for the benefit of KazMunaiGas.