National company: Kazakhstan brings oil production at Kashagan field up to 60,000 barrels per day
Kazakhstan, Astana, Oct. 8 /Trend D.Mukhtarov/
Oil production at the Kashagan field was increased to 60,000 barrels per day, Chairman of the Board of JSC NC KazMunaiGas Sauat Mynbayev said on Tuesday at the VIII KAZENERGY Eurasian Forum.
"Every year significant investments enter the oil and gas industries of our country and large scale projects in the field of production are being carried out. Kashagan is one such project. The first oil has been produced and today it amounts to about 60,000 barrels per day. Kazakhstan and its partners have been aiming for this over 10 years," he said.
The KazMunaiGaz head noted that most of the world's oil and gas, namely 60-65 per cent accounts for Eurasia. Therefore the continent largely determines the dynamics of the demand on a global scale. According to him, this is why the processes taking place in Eurasia will shape the long term scenarios in the global energy industry.
"The growth of energy consumption already provides countries outside the Organisation of Economic Development and Cooperation (OECD) and the matter here rests first of all on China and India. For example, the International Energy Agency (IEA) expects growth in demand for crude oil which stood at 87 million barrels per day in 2011 to reach almost 100 million barrels in 2035. According to our estimates this demand could reach 100-120 million barrels much sooner. Only a very limited number of countries will be able to actively increase the production of natural gas crude. Also a growth in the share of hard obtainable resources and an unprecedented increase in geological exploration is being observed. Kazakhstan intends to strengthen its position prior to the forecasted increase of demand," Mynbayev said.