BAKU, Azerbaijan, Mar. 17
By Nargiz Sadikhova - Trend:
North Caspian Operating Company which operates Kazakhstan’s Kashagan major oil and gas field is planning to implement an offshore project (Bundle 1), North Caspian Operating Company (NCOC) told Trend.
The NCOC said that the implementation of the project that improves the performance of the company’s reinjection compressors is planned for 2022.
“Once successful, it will give us about 20,000 barrels of additional oil per day on top of 400,000 barrels a day,” the company said.
The company added that NCOC has already received the Final Investment Decision approval from the shareholders and PSA Authority for this project.
The North Caspian Project is the first major offshore oil and gas development in Kazakhstan. It covers three fields: Kashagan, Kairan, and Aktoty.
The Kashagan field is one of the 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.
The first commercial oil production started at Kashagan in 2016. The project operator North Caspian Operating Company (NCOC) shipped the first million tons of oil for export in early 2017. NCOC has reached a record-breaking volume of oil extraction at the field (390,000-400,000 barrels a day) in 2019.
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