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NCOC talks on following production plans at Kashagan field in Kazakhstan

Oil&Gas Materials 31 March 2020 17:58 (UTC +04:00)
NCOC talks on following production plans at Kashagan field in Kazakhstan

BAKU, Azerbaijan, Mar. 31

By Nargiz Sadikhova - Trend:

North Caspian Operating Company (NCOC), which is developing one of Kazakhstan’s largest oil and gas fields – Kashagan field - is following its production plans, endorsed by Kazakhstan’s government and shareholders, NCOC Managing Director Richard Howe told Trend.

Howe said that NCOC remains committed to safe, profitable operation and development during the state of emergency period in Kazakhstan.

“NCOC is following its production plans, endorsed by Kazakhstan’s government and shareholders. In fact, in March our oil export has reached 40 million tons of oil since the production restart. Overall production reliability remains high,” he said.

He added that of course, it is not unusual for daily production to be reduced for various reasons, including maintenance and this is factored into production planning.

“Production has now resumed to previous levels after a recent short time decrease at Kashagan. As of today, we are not stopping work or cutting production. Our safe operations are monitored by 20 air quality monitoring stations located around Bolashak plant, neighboring settlements and in Atyrau operational and the data is monitored by Kazhydromet meteorological agency,” Howe said.

Talking situation with current lower oil prices and whether they will affect NCOC’s operations and workforce he said that the company is not about to reduce its staff.

“We proactively work and collaborate with contractor/subcontractor management by monitoring Labor Code compliance and workers’ welfare. In general, Kashagan will have a production life of decades. It should be viewed from a long-term perspective rather than in the context of the shorter-term economic climate,” he said.

On March 15, 2020, Kazakhstan’s President Kassym Jomart Tokayev signed a decree introducing an emergency state in Kazakhstan due to the coronavirus outbreak, which came in force from 08:00 (GMT +6) on March 16 and will last till 08:00 on April 15, 2020.

The latest data said that the total number of coronavirus cases in Kazakhstan is 336 people.

On the morning of March 9, 2020, Brent crude plunged 25 percent dropping to its lowest since February 2016 and recording the biggest one-day percentage declines since Jan. 17, 1991.

Trading volumes in the front-month hit record highs in the previous session after a three-year pact between Saudi Arabia and Russia and other major oil producers to limit supply fell apart on March 6, 2020.

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