The production potential of the Kashagan oil and gas field can reach over 1.5 million barrels of oil per day, which is about 75 million tonnes per year, according to experts. During a solemn event commemorating the 30th anniversary of the commencement of development activities of the Kazakh shelf of the Caspian Sea, Kazakh Prime Minister Alikhan Smailov announced that the Kazakh Government is now facing the task of increasing production. Kashagan has significant oil and gas reserves. Overall, around 90 million tonnes of oil and 55 billion cubic meters of gas have been extracted there. Investments exceeding $60 billion have been attracted, with over $17 billion directed towards local content development.
“As the operator of the North Caspian project, the North Caspian Operating Company (NCOC) consortium, faces significant tasks to further increase production through the comprehensive development of the field. The development of gas processing facilities at the field is also of significant importance. It’s worth noting that the Head of State has instructed the government with this task,” Smailov said.
