Kashagan, Kazakhstan’s stagnant oil field, will resume commercial production late next year. Energy Minister Vladimir Shkolnik made the announcement on the 10th Eurasian Forum of Kazenergy 2015 in Astana.
“Commercial production at Kashagan is expected to resume by the end of 2016. Karachaganak will implement the concept of further development of the field. We expect to complete the design work on the expansion of Karachaganak in 2017, commissioning – in 2022,” said Shkolnik to AKIPress.
He also shared Kazakhstan’s other major oil projects.
“Project Eurasia is a comprehensive exploration of the Caspian basin. We are now working out the incentives for investors and it will allow us to attract leading international companies to maintain plateau production of 100 million tonnes per year in the long term,” said the Minister.
Chevron-led Tengiz project is the main medium-term driver of economic growth, he said.
“Commissioning of new facilities will take place in 2021, it will allow us to increase production to 38 million tonnes and create up to 20 thousand new jobs,” said Shkolnik.