Kazmunaygas And NCOC Assess Progress In Kashagan Field
Date
6/19/2024 3:09:42 AM
(MENAFN- Trend News Agency)
ASTANA, Kazakhstan, June 19. Kazakhstan's
KazMunayGas (KMG, the national oil and gas company) and North
Caspian Operating Company N.V. (NCOC), the operator of the Kashagan
field, have discussed the development of the Kashagan field,
Trend reports.
Negotiations on this topic took place between the Chairman of
the Board of KMG Askhat Khassenov and the NCOC Managing Director
Giancarlo Ruiu.
The parties emphasized compliance with high standards of safety
and labor protection. It was noted that record production figures
of 18.8 million tons, achieved at Kashagan at the end of 2023,
confirm the enormous potential of the field.
The interlocutors agreed that the importance of Kashagan's raw
materials will only grow given the development of petrochemical
production and low-carbon development in the country.
Khassenov noted that KMG, as a shareholder, will support NCOC's
social projects aimed at improving the living conditions of the
region's residents and developing infrastructure.
Meanwhile, the volume of oil production at Kazakhstan's Kashagan
field for the share of KMG amounted to 780,000 tons (68,000 barrels
per day) from January through March 2024. According to KMG's data,
compared to the same period in 2023, the volume of oil production
decreased by 1.7 percent.
Simultaneously, gas production hit the mark of 501 million cubic
meters, which is on par with the figure for the first quarter of
2023.
To note, the Kashagan field is an offshore oil field in
Kazakhstan's zone of the Caspian Sea. The development of the field
is carried out by the international joint venture North Caspian
Operating Company (NCOC) in accordance with the production sharing
agreement dated November 18, 1997. Industrial production at the
field began on September 11, 2013.
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