Kazakhstan’s Energy Ministry on export routes for Kashagan oil (Exclusive)
Baku, Azerbaijan, Mar. 6
By Ali Mustafayev – Trend:
Atyrau-Novorossiysk and Atyrau-Samara will remain the main routes for oil transportation from Kazakhstan's Kashagan field in near future, a source in the Kazakh Energy Ministry told Trend.
"Currently, the existing transport infrastructure is sufficient to export products from the Kashagan oil field," Trend was told.
The source also stressed that the oil export from the Kashagan field is carried out through the Caspian Pipeline Consortium (CPC) and KazTransOil JSC pipeline systems.
In December 2017, Kazakhstan's energy minister Kanat Bozumbayev, during his visit to Baku, said that the further expansion of oil production at the Kashagan field may lead to search of alternative export routes for Kazakh oil.
Previously it was also announced that the CPC has not yet reached its capacity limit. Presently, the Caspian Pipeline Consortium works on expansion of the capacity of its oil pipeline system to 67 million tons of oil per year.
The implementation of the expansion project is expected to put the company into a new economic level, increasing its revenue to $2.3 billion a year.
The increase in oil production is the key to the demand for the CPC pipeline system in the long term.
The geological reserves of the Kashagan field, from where oil enters the pipelines of the CPC and KazTransOil, are officially estimated at 4.8 million tons of oil. The total oil reserves amount to 38 billion barrels, 10 billion barrels of which are recoverable.