Kazakhstan's NCOC company to take measures to increase oil output in 2020

Kazakhstan's NCOC company to take measures to increase oil output in 2020

BAKU, Azerbaijan, Feb. 14

By Nargiz Sadikhova - Trend:

Kazakhstan’s North Caspian Operating Company (NCOC) is looking to take a number of measures to increase oil output volume, a representative of NCOC told Trend.

The official said that NCOC has reached a significantly high operational reliability of the operator’s production facilities.

Continuous increase of extraction volume at Kashagan oil and gas field up to 380,000 barrels a day was reached by NCOC in 2019 thus exceeding the project capacity of 370,000 barrels a day.

“NCOC is taking all measures to exceed the forecast volume and provide for maximal oil extraction volume in 2020. We have already taken an important step in this direction having implemented an overhaul in 2019 during which wells of marine complex were modernized and a number of wells were re-equipped from being extracting wells to be injection wells,” the official said.

She added that possible future steps include modernization of expecting compressor of gas injection at Kashagan, increase of operational capacities in marine and land objects, additional drilling and constriction of additional pipelines linking the objects.

“In the case that these measures are aligned with Kazakhstan’s government and our investors, they will allow to increase the oil extraction to 450,000 barrels a day and more,” the official said.

NCOC is a operator of the North Caspian Project, which is the first major offshore oil and gas development in Kazakhstan. The project covers four oil fields including Kashagan, Kairan, Aktoty, and Kashagan South West.

The Kashagan field is one of three largest oil fields located in the northern part of the Kazakh sector of the Caspian Sea. Its recoverable reserves reach approximately 9-13 billion barrels (1-2 billion tons) of oil.

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Follow the author on twitter: @nargiz_sadikh

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