Kazakhstan plans to triple oil supplies to China
Baku, Azerbaijan, Sep. 5
By Elena Kosolapova - Trend:
After the launch of Kashagan field, Kazakhstan may increase oil supplies to China from current 7 million tons to 20 million tons, Kazakh President Nursultan Nazarbayev said following his working visit to China, presidential press-service reported.
Moreover Kazakhstan will be able to increase gas supplies to China, Nazarbayev said.
The production at the Kashagan field started in September 2013, but in October, it was suspended after a gas leak in one of the main pipelines. It is planned the resume oil production at Kashagan field in October 2016.
Kashagan is a large oil and gas field in Kazakhstan, located in the north of the Caspian Sea. The geological reserves of Kashagan are estimated at 4.8 billion tons of oil. The total oil reserves amount to 38 billion barrels; some 10 billion out of them are recoverable reserves. There are large natural gas reserves at the Kashagan field - over one trillion cubic meters.
Follow the author on Twitter: @E_Kosolapova