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Kashagan Field Produced 201,000 Tonnes Of Oil In October

Kazakhstan’s Kashagan oil field produced about 201,000 tonnes of oil in October, its first full month of operation, data from the Energy Ministry’s analytical center showed on Nov. 14.

Energy majors developing the giant Caspian Sea field started test pumping in September and exports of small volumes began last month, but the companies and the government have not yet announced the start of stable commercial output.

The October output figure is the equivalent of daily production of 52,600 barrels (bbl), while Kazakh officials have said that in order to reach commercial output, the field needs to achieve stable production of at least 75 Mbbl/d.

The field off of Kazakhstan’s Caspian Sea coast has cost about $55 billion to develop, according to analyst estimates. It first started production in 2013, but output was suspended shortly afterward because of technical problems with the gas pipelines.

The NCOC consortium developing Kashagan is made up of China National Petroleum Corp., ExxonMobil Corp. (NYSE: XOM), Eni , Royal Dutch Shell Plc (NYSE: RDS.A), Total, Inpex and KazMunaiGas.

Source: Reuters

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