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NCOC plans to produce 450,000 barrels of oil at Kashagan

March 5 2015, 15:33

North Caspian Operating Company B.V. (NCOC), the operator of activities under the North Caspian Project, which is developing the Kashagan oil field, plans to eventually produce at Kashagan up to 450 thousand barrels of oil per day, this has been announced by deputy Managing Director of NCOC Zhakyp Marabayev (on a photo) at "Oil and gas construction and engineering" conference held in Atyrau city.

"Currently, the operator studies and analyzes opportunities for such projects as the center of compression that will increase oil production from 370 thousand to 450 thousand barrels per day. In addition, we are considering the second phase of Kashagan field, and development of fields called Kalamkas-sea Aktoty and Kayran," said Zhakyp Marabayev.

Marabayev urged Kazakhstan producers to more actively participate in the project. He recalled that in 2014 about $ 900 million or 46.16% of the total expenditures of the consortium were spent for local goods and services. Overall, from 2006 to 2014 more than 11 billion dollars have been allocated for this purpose.

Kashagan is considered to be the world's largest oil find after Prudhoe Bay in Alaska, which was discovered in 1968.


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