Baku, Azerbaijan, Feb.2
By Nigar Guliyeva – Trend:
Ten million tons of crude oil and condensate have been exported from the Kashagan field, North Caspian Operating Company N.V. (NCOC) said in a message on Feb.2.
NCOC, the operator of the first offshore oil and gas project in the Kazakhstan sector of the Caspian Sea, announced that as of Jan.30 10 million tons of crude oil and condensate have been safely produced and exported from the Kashagan field.
The company added that its will be gradually increasing production.
National Economy Minister Timur Suleimenov previously said that the oil production at Kashagan, one of the largest fields of Kazakhstan, exceeded the annual plan by 46 percent.
“In eleven months of 2017, 7.3 million tons were produced, which exceeds the initial annual plan by 5 million tons, or 46.0 percent,” he said at a government meeting on Dec. 12.
The geological reserves of Kashagan are estimated at 4.8 million tons. Total oil reserves amount to 38 billion barrels, of which about 10 billion barrels are recoverable, natural gas reserves are more than 1 trillion cubic meters.