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Eni reveals equity output at Kazakhstan’s Kashagan field

Oil&Gas Materials 14 November 2019 09:57 (UTC +04:00)
Eni reveals equity output at Kazakhstan’s Kashagan field

Baku, Azerbaijan, Nov.14

By Leman Zeynalova – Trend:

During the third quarter of 2019, average gross production at Kazakhstan Kashagan oil field was 503,000 barrels of oil equivalent per day, Eni S.p.A, an Italian multinational oil and gas company, told Trend.

The company said that following the First Major Turnaround of the Field carried out in Q2 2019, production was increased through the conversion of one additional well to injector.

“During 3rd Quarter Kashagan average gross production was 503.0 Kboed, that generate average Eni equity production of 82.9 Kboed Record crude oil rate of 400.26 kbopd was achieved on 4 Sept 2019,” said Eni.

The total oil reserves of Kashagan reach 38 billion barrels, of which about 10-11 billion barrels are recoverable. At the same time, natural gas reserves exceed one trillion cubic meters.

Kashagan is a massive shallow-water oil field located approximately 80km offshore Atyrau, Kazakhstan, in the North Caspian Sea. Kashagan phase one is the first offshore oil field development project in Kazakhstan, which commenced commercial production in October 2016.

The Kashagan field is being developed and operated by North Caspian Operating Company (NCOC), a joint venture of the state-owned KazMunaiGas (KMG, 16.9 percent), Shell (16.8 percent), Total (16.8 percent), Eni (16.8 percent), ExxonMobil (16.8 percent), CNPC (8.3 percent), and Inpex (7.6 percent). NCOC is the operating company for the North Caspian Sea Production Sharing Agreement (NCSPSA).

Developed with an estimated investment of £45bn ($55bn), Kashagan phase one represents the biggest international investment in Kazakhstan till date. Developed in harsh offshore environment, it is also considered to be one of the world’s most technically challenging oil and gas project completed so far.

Kashagan phase one, which is also known as the Experimental Program (EP), reached its maximum design capacity of 380,000 barrels per day (bopd) in the first half of 2019.

Eni has been present in Kazakhstan since 1992. Eni is joint operator of the Karachaganak field and is an equity partner in various projects in the Northern Caspian Sea, including the giant Kashagan field. In 2018 Eni became joint operator in the exploration block Isatay, with the national company KMG.

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