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Production on one of Kazakhstan's major oilfields to double to 370,000 bbl per day

Kashagan oilfield reserves are estimated at 35 bln barrels of oil, with 11 bln barrels viewed as recoverable

MOSCOW, February 13. /TASS/. Oil production on Kazakhstan’s Kashagan field will grow twofold to 370,000 barrels per day, the oilfield operator North Caspian Operating Company (NCOC) told TASS.

"We expect to reach oil production of 180,000 barrels per day already in coming month. Production is planned to grow to 370,000 barrels daily by the end of the year," NCOC said. Current production is 160,000 barrels a day, the company said.

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IEA increases 2017 global oil demand outlook

At the turn of 2016 NCOC consortium (comprising Eni, ExxonMobil, CNPC, Royal Dutch Shell, Total, Inpex and KazMunaiGas) got an approval from the government of Kazakhstan for design engineering work for further expansion of Kashagan Phase One. The design capacity may grow to 450,000 barrels per day after completion of Phase One activities in 2018.

Kashagan oilfield reserves are estimated at 35 bln barrels of oil, with 11 bln barrels viewed as recoverable.

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