Exports from Kashagan Oil Field to start no earlier than 2019

Exports from the Kashagan Oil Field will start no earlier than 2019-2020, Kazakh Minister for Energy and Mineral Resources Sauat Mynbayev said at the 6th Eurasian Forum Kazenergy in Astana today.

Kazakhstan will increase oil extraction to 132.1 million tons annually by 2020, gas extraction - to 92.2 billion cubic meters.

The Kashagan Oil Filed is located in the Kazakh sector of the Caspian Sea, $33 billion of investments have been spent.

Initial extraction will reach 50 million tons of oil annually.

Kashagan has about 10 billion tons of oil reserves and over 1 trillion cubic meters of gas.