Kazakhstan Chamber of Commerce in the USA

KazCham



Kazakhstan to launch Kashagan oil production in November 0

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.

Kazakhstan discovers more oil 0

Posted on March 09, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

Oil has been discovered during exploration activities at the north-eastern flank of the S. Nurzhanov field, Liman and Akkuduk blocks in Kazakhstan.

During exploration, light crude oil flowed at a rate of 130 tonnes per day. Moreover, a natural oil flow rate of 3.3 cubic metres per day was obtained at the Liman block. Preliminarily prospective resources are estimated at 3.9 million tonnes of recoverable hydrocarbons.

The company plans to drill two appraisal wells in 2016-2017 and to start trial production in 2018.

Kazakhstan reduces oil export customs duty 0

Posted on February 07, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

Kazakhstan has reduced the oil export customs duty to $40 per tonne, a reduction of the $60 duty that had been in place since March 2015.

Kazakhstan exported over 61 million tonnes of oil in 2015, according to the Statistics Committee of the Ministry of National Economy.



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