Oil extraction at the Kashagan Field in Kazakhstan will total 375,000 barrels daily, Trend cites Lyazzat Kiinov, CEO of KazMunaiGas, as saying.
Extraction at the field will start at 75,000 barrels daily and will reach 375,000. According to another version, output may increase to 450,000 barrels daily.
Jakyp Marabayev, Managing Director of the Kashagan project at the North Caspian Operating Company (NCOC), said earlier that extraction will start from 75,000 barrels daily.
The Kashagan Field is located in the northern section of the Caspian Sea. It holds about 4.8 billion tons of oil reserves. The operator of the project says that common oil reserves total 38 billion barrels, or 6 billion tons of oil. About 10 billion barrels of them are extractable. Kashagan has over a trillion cubic meters of gas reserves.
