Oil production at Kashagan will start in late 2016

RoK Energy Minister V. ShkolnikKashagan will start oil production in late 2016, this has been announced by Energy Minister Vladimir Shkolnik at today's meeting in Majilis.

During the meeting the Minister also added that in 2015 Kazakhstan will produce more than 80 million tons of oil.

"This year we plan to produce 80.5 million tons of oil. The price of oil is quite low, therefore it is necessary to take unprecedented measures to reduce production costs, cost savings, and so on," he explained.