Kazakhstan ready to start commercial oil production at Kashagan

Kazakhstan is ready to hold a meeting of the managing committee as early as next month, where the decision to start commercial production at the Kashagan field in the Kazakh sector of the Caspian Sea could be announced, Kazakh Energy Minister Kanat Bozumbayev said.

"If the managing committee decides that there is a stable production of 75 thousand barrels per day, the commercial production will be started. We assume that the managing committee will meet next month," RIA Novosti cited Bozumbayev as saying.

The first batch of 18,800 tonnes of oil from the Kashagan oil field was shipped for export on October 14.

The production at the Kashagan field started September 2013, but in October, it was ceased after a gas leak in one of the main pipelines. The analysis revealed numerous cracks in the pipeline, which needed to be completely replaced. The output was again suspended shortly after its launch because of technical problems with the gas pipelines.

The geological reserves of Kashagan are estimated at 4.8 billion metric tons of oil. The total oil reserves amount to 38 billion barrels; some 10 billion out of them are recoverable reserves. There are large natural gas reserves at the Kashagan field - over one trillion cubic meters.