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Kazakhstan’s President Nursultan Nazarbayev has launched Atyrau-based Bolashak oil treatment facility intended to handle oil coming from the giant Kashagan oilfield, Tengrinews.kz reports, citing President Nazarbayev’s website.
“This launch is ground-breaking for Kazakhstan (…) without it, Kashagan crude couldn’t reach the market. The giant oilfield is to shortly start producing commercial oil (…) the time capsule for the oil treatment facility was laid 8 years ago. The name “Bolashak” (translated as “future” from Kazakh) is of special importance. It will be another symbol of the flourishing future of Kazakhstan”, President Nazarbayev said.
Head of State emphasized that the facility was to be launched June 26; however, the launch was postponed to coincide with UK Prime Minister David Cameron’s state visit to Kazakhstan.
President stressed that the oil treatment facility is one of the largest industrial facilities in Kazakhstan. It is capable of handling 450 000 barrels of oil a day, as well as 8.8 billion cubic meters of gas a day. The facility is to employ over 2500 people.
“The start of commercial production at Kashagan opens a new era in the Kazakhstan’s O&G history. The project to develop the oilfield is an example of effective international cooperation (…) not long ago when meeting foreign investors I reiterated that investors introducing innovations will enjoy special support on the part of the Government”, President Nazarbayev said.
“Kashagan is set to secure a steady pay back. Last year alone Kazakhstan-based producers supplying products and services to the project got paid around $1.5 billion. The efforts should be further maintained”, Nazarbayev said.
David Cameron emphasized that Kashagan is a pillar of the country’s O&G sector. “The project’s imposing scale testifies to the country’s potential. It’s gratifying that UK’s Shell has contributed to the project. UK’s companies possess advanced technology to develop oil in tough conditions, notably in the North Sea; besides, they always try to work with local partners”, he said.
David Cameron expressed confidence that Kazakhstan and UK can actively develop trade and economic ties, securing a stable inflow of investments. “Renouncement of the nuclear weapons, growing wellbeing of common people, economy diversification (…) these are actual achievements of Kazakhstan. We want to be partners, including outside the O&G sector; notably, in education, culture and other realms of strategic priority to Kazakhstan”, he said.
June 30 the two leaders attended a meeting of business circles representatives to dwell on expansion of the economic interaction between the two nations.