Kazakhstan aims to produce 13m tons of oil from Kashagan in 2013
Kazakhstan has set a goal to extract 13 million tons of oil and 9 billion cubic meters of gas from the giant Kashagan field in 2013, Deputy Oil and Gas Minister Berik Tolumbayev told media.
Tolumbayev said the pilot phase of the Kashagan project will begin in the first quarter of 2013. The issue of extending the contract with the shareholders of North Caspian Operating Company B.V. (NCOC), the consortium developing the field, has not been discussed yet.
"A 20-year extension of the contract has not been raised," he said. "This is related to the development strategy. We are now discussing a strategy for developing the Kashagan first stage."
The contract between Kazakhstan and NCOC expires in 2040.
KazEnergy Association Chairman Timur Kulibayev said that $45
billion have been invested in the Kashagan project.
The Kashagan field, one of the largest in the world, is operated by the international consortium under the North Caspian Sea Production Sharing Agreement. Shareholders are Eni, KazMunaiGas, Total, ExxonMobil, and Royal Dutch Shell holding a 16.81 percent stake each, while ConocoPhillips has 8.4 percent and Inpex 7.56 percent.
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