Kazakhstan Chamber of Commerce in the USA

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Kazakhstan to launch Kashagan oil production in November

Posted on October 06, 2016 by KazCham

Centil Law Firm BI@centil.law

Commercial oil production will begin at the giant Kashagan field in Kazakhstan in November. KazMunayGaz signed a contract last month with trader Vitol to arrange prepayment for its share in the Kashagan oil, worth $1 billion. Kashagan’s output will be a modest 50,000 to 1 million tonnes this year, 3 million to 5 million tonnes next year and then 7 million tonnes in 2018, according to Kazakh Energy Minister Kanat Bozumbayev.

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