Commercial oil production can begin at the Kashagan field 1.5 months after its launch, First Deputy Energy Minister of Kazakhstan Uzakbai Karabalin said Sept. 29 at a press conference within the framework of the KAZENERGY Eurasian forum, Kazinform news agency reported.
He went on to add that according to the plans, oil production at Kashagan is planned at late 2016.
“Today all the work was planned for this period, and there are no changes for now,” he said.
“It is not a problem for such a field as Kashagan to reach commercial production given a stable operation of all the equipment,” he said. “It amounts to 75,000 barrels per day, months will be needed for that. The last time we almost reached commercial production in one and a half months, and it is quite possible. The issue of reaching 875,000 barrels will also depend on how the equipment works. Such amount is quite attainable. The power of the equipment, which is now installed and located on the field and in the "Bolashak", is enough to reach this amount.”
He also said that this year's forecast of crude oil production decreased to 79 million tons. Karabalin said that it's not a big decline, given the significant decline in world oil prices. He said that in 2016, in case if the situation changes to the worse side, the forecast on the production volume will be reduced again to 77 million tons, but if prices are maintained, the current outlook for oil production will be kept.
Edited by CN
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