Kazakhstan not to limit oil production at Kashagan
Baku, Azerbaijan, Nov. 1
By Elena Kosolapova – Trend:
Kazakhstan will not pose any limits for oil production at Kashagan field, Sputnik Kazakhstan quoted Kazakh Energy Minister Kanat Bozumbayev quoted as saying.
The minister noted that Kazakhstan’s share in the world oil production is very small – just 1.5 million barrels from over 34 million barrels of the world oil production.
He reminded that the largest oil producers in the world are Saudi Arabia and Russia, besides Iran, Brazil and Mexico produce a lot.
“Therefore, reduction or increase in oil production in Kazakhstan "does not play a big role," the minister said.
He noted that Kashagan was launched just a month ago.
“Any limits for Kashagan oil production are out of question, because we have liabilities and a lot of money have been invested," Bozumbayev told reporters.
Bozumbayev noted that Kazakhstan plans to sell the first Kashagan oil until the yearend.
However, the minister said that natural decline in oil production is observed in a number of other fields in Kazakhstan. He noted that these fields require new drilling works and they cannot maintain production at current oil prices.
“But it is premature to say that we are going to limit oil production,” Bozumbayev said.
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