Kazakhstan’s Kashagan field annual output may reach 75 million tons of oil

Kazakh Prime Minister Alikhan Smailov has delivered a speech at an event dedicated to the 30th anniversary of the beginning of the development of the Kazakh shelf of the Caspian Sea.

The prime minister noted that the uniqueness of the Northern Caspian field is that it has huge oil and gas reserves, but at the same time it is difficult in terms of development, Sputnik Kazakhstan reports.

The huge research work has been carried out there since 1993. Its results are visible now: about 90 million tons of oil and 55 billion cubic metres of gas have been produced, investments worth more than $60 billion have been attracted, more than $17 billion has been invested in the development of local production, about 10,000 people have been provided with jobs, while at the peak of construction - more than 40,000 people.

Smailov added that the operator, the North Caspian Operating Company (NCOC), faces the task of increasing production through full-scale development.

The experts said that the production potential of Kashagan can reach 1.6 million barrels of oil per day, which is about 75 million tons per year.