ASTANA (TCA) — Minister of Energy of Kazakhstan Kanat Bozumbayev says that currently, four wells are producing 90 thousand barrels of crude oil per day at the huge Kashagan oil field in the Kazakh sector of the Caspian Sea, the official website of the Prime Minister of Kazakhstan reports.
Bozumbayev said that KazTransOil’s tanks have already begun receiving oil from Kashagan.
“Everything at Kashagan is going its way. Oil recovery has actively started from four wells with the debit of around 90 thousand barrels per day,” the minister said on October 12.
Bozumbayev also said that Bolashak oil purification plant which receives crude from Kashagan has already been launched.
“Bolashak is working. Purified commercial crude oil is being received from Bolashak and is already supplied to KazTransOil tanks,” Bozumbayev said.
According to the minister, this oil will be gradually stockpiled in KazTransOil’s tanks, and the project operator would announce its first oil export contracts after some time.
Kashagan’s oil reserves are estimated at 38 billion barrels including around 10 billion barrels of recoverable reserves.
Bozumbayev also said that Kazakhstan’s influence on the world oil market should not be overestimated, Sputnik news agency reported.
“Oil production cut is not on Kazakhstan’s agenda today… You should not overestimate Kazakhstan’s influence on the world (oil) market,” the minister told journalists after the plenary session of the Majilis (lower house of the Kazakh parliament) yesterday.