Baku, Azerbaijan, Nov.22
By Leman Zeynalova – Trend:
Japan’s Inpex Corporation aims to reach target production volume of 370,000 barrels per day from Kazakhstan’s Kashagan oil field at an early stage, the company said in its report on financial results for the six months ended Sept.30.
Through its subsidiary Inpex North Caspian Sea Ltd., Inpex Corporation holds 7.5 percent share in North Caspian Operating Company consortium (NCOC), operator of Kashagan oil field.
Current production volume at Kashagan stands at 330,000 barrels per day, according to the report.
Moreover, the company said that development scenario studies are ongoing for undeveloped discoveries of Kalamkas / Aktote / Kairan structure.
Kashagan is an offshore oil field in Kazakhstan's sector of the Caspian Sea. The field, discovered in 2000, is considered the world's largest discovery in the last 30 years, combined with the Tengiz Field.
It is estimated that the Kashagan field has recoverable reserves of about 13 billion barrels of crude oil. Commercial production at Kashagan began in November 2016. It has been designated as the main source of supply for the Kazakhstan-China oil pipeline.
North Caspian Operating Company consortium (NCOC), operator of Kazakhstan's Kashagan oil field) started experimental program in Kashagan in 2016. The shareholders of the consortium are KMG Kashagan B. V., Shell Kazakhstan Development B.V., Total E&P Kazakhstan, Agip Caspian Sea B.V., ExxonMobil Kazakhstan Inc. (16.8 percent each), CNPC Kazakhstan B. V. (8.3 percent), Inpex North Caspian Sea Ltd. (7.5 percent).
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