Extractive industries: blessing or curse? Description of Kashagan oil field in Kazakhstan added to PMWL
04 March 2016 – Almaty, Kazakhstan – A new resource has been added to the PM World Library related to major oil & gas projects in Kazakhstan. The new resource is titled “Kashagan oil field development”.
Kashagan is a giant oil field in the northern, Kazakh part of the Caspian Sea, 80 km south-east of Atyrau. Kashagan extends over a surface of approximately 75 km by 45 km. It is named after a 19th century Kazakh poet from Aktau. Kashagan was discovered only in July 2000. It is currently estimated that the field holds up to 38 billion barrels of oil-in-place of which 13 billion are potentially recoverable with the use of gas re-injection. The gas contains huge volumes of associated gas. According to some industry resources, Kashagan’s reserves could well exceed 50 billion barrels. This would make it into the second largest oil field in the world, after the Ghawar field in Saudi Arabia.
Kashagan is the most important field in the 11 blocks falling under the North Caspian Sea Production Sharing Agreement (PSA), covering a total of 5,600 km² in the Kazakhstan part of the Caspian Sea. Other fields falling under the same PSA are Kashagan South West, Aktote, Kairan and Kalamkas. This PSA was concluded between the government of Kazakhstan and the Offshore Kazakhstan International Operating Company (OKIOC) in November 1997. At the time the consortium committed to invest seven billion USD in the project, to start oil production in 2005, and to build a pipeline for oil export before 2013 which would have to accommodate the planned production volume of 30million tones per year.
To access this new resource, go to https://pmworldlibrary.net/major-projects-programmes/, click on “Mining - natural resources- oil & gas”. Must be a registered member to access.
Posted by: Saya Askarova
