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Kazakhstan to produce annual 15 mln tons of oil at Kashagan by 2022

26 December 2013 13:01 (UTC+04:00)
Kazakhstan to produce annual 15 mln tons of oil at Kashagan by 2022

By Aynur Jafarova

Kazakhstan will produce 15 million tons of oil per year at the giant Kashagan field in the Kazakh sector of the Caspian Sea by 2022.

The news was announced in a statementby Samruk-Kazyna, citing the development strategy of KazMunaiGas national company.

Around 14.876 million tons of oil is expected to be produced at Kashagan field in 2022, and the share of KazMunaiGas in this volume will be 2.511 million tons.

The recoverable oil reserves of Kashagan field are estimated at 11 billion barrels, whereas the total geological raw material reserves stand at 35 billion barrels.

Kashagan is believed to be the largest oil field in the world after Prudo Bay in Alaska. Its natural gas reserves are estimated at over 1 trillion cubic meters.

The message also said some 39.315 million tons of oil will be produced at the Tengiz field in 2022, about 7.863 million tons of which will constitute the share of KazMunaiGas.

The Tengiz oil field was discovered in 1979 and is one of the deepest and largest oil fields in the world. Reserves of the deposit are estimated at 750 million to 1.1 billion tons (6-9 billion barrels) of recoverable oil.

About 7.760 million tons of oil will also be produced at the Karachaganak field in 2022, and KazMunaiGas's share will amount to 776,000 tons.

Karachaganak is one of the world's largest fields. Its oil reserves amount to 1.2 billion tons, while those of natural gas stand at 1.35 trillion cubic meters. 49 percent of Kazakhstan's gas production and 18 percent of its oil production come from this field.

It was mentioned in Samruk-Kazyna's message that these estimated figures can be corrected in the production process.

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