Today, September 11, North Caspian Operating Company (NCOC) has declared the start of production at Kashagan field in the Caspian Sea.
According to the consortium's press release, the first well at the offshore field has been unplugged giving first barrels of crude oil.
"On June 30, Kazakhstan's president Nursultan Nazarbayev paid visit to the Kashagan project facilities on the occasion of commissioning of structures needed for the first stage of production. The day marked the beginning of the final preparations before facilities' startup. The field of Kashagan is the largest oil deposit in the Caspian Sea with geologic reserves of nearly 35 billion barrels. The next development projects will lead to significant increase of output and raise Kashagan to the level of the most critical suppliers in the global energy resources market," reads the official statement.
To recall, NCOC is acting on behalf of seven stakeholders in the consortium as an assigned operator that executes evaluation and development of hydrocarbon fields under NCPSA - North Caspian Sea Production Share Agreement dated November 18, 1997 (with changes and additions).
Fields situated within the NCSPSA contract area that covers 5,600 square kilometers, include a giant field Kashagan located in some 80km SE of Atyrau, as well as Kalamkas Offshore, SW Kashagan, Aktoty and Kairan.