Oil and gas extraction plans for Kashagan in 2013 announced in Kazakhstan

Kazakhstan has set plans to extract 13 million tons of oil and 9 billion cubic meters of gas on the Kashagan field in 2013, Deputy Oil and Gas Minister Berik Tolumbayev told media today.

“Oil production on Kashagan is expected to reach 13 million tons of oil and 9 billion cubic meters of gas from 2013,” he said.

He said that the pilot-industrial phase of the “Kashagan” project will begin in the first quarter of 2013. The issue of extending the contract with the shareholders of the The North Caspian Operating Company BV (NCOC) consortium, developing the field, has not been discussed yet.

“The 20-year contract extension has not been raised,” he said. “It is connected with the development strategy. We are now discussing a strategy of developing Kashagan first stage.”

The contract between the Republic of Kazakhstan and NCOC consortium expires in 2040.

KazEnergy Association Chairman Timur Kulibayev said that $ 45 billion were invested in the Kashagan project.

Kashagan is one of the largest fields in the world discovered in the last 40 years. Partner-companies are Eni, KMG Kashagan BV, Total, ExxonMobil, Royal Dutch Shell having approximately 16.81 percent stake, ConocoPhillips – 8.4 percent, and Inpex – 7.56 percent. The project is being developed by the NCOC consortium.