Kashagan oil production surged 48% in 2023, reaching record 18.8 million tonnesIn 2023, the Kashagan field yielded a record-breaking 18.8 million tonnes of oil, which represents a remarkable growth of 48% from the 12.7 million tonnes produced in 2022, according to KazMunayGas (KMG)'s press service on Thursday.The field's performance was reviewed in a meeting between KazMunayGas head Magzum Mirzagaliev and Executive Vice President of Shell's Oil and Gas Exploration and Production Peter Costello.The parties agreed to focus on developing the field further, with the main goal of increasing commercial gas production to meet Kazakhstan's growing domestic demand. “The primary focus is on constructing a gas processing plant in Kashagan, with a capacity of 2.5 billion cubic meters per year,” according to KMG statement.The companies also discussed cooperation in geological exploration, including the prospecting of promising areas in Kazakhstan, in line with the memorandum signed last year between KMG and Shell.NCOC is owned by KMG Kashagan B.V. with 16.877%; Shell Kazakhstan Development B.V., Total EP Kazakhstan, Agip Caspian Sea B.V., and ExxonMobil Kazakhstan Inc. with 16.807% each; CNPC Kazakhstan B.V. with 8.333% and Inpex North Caspian Sea Ltd. with 7.563%.Kashagan is Kazakhstan's first offshore oil and gas field in the Caspian Sea. It is the largest international investment project in the country. Commercial operation at Kashagan began on November 1, 2016. The recoverable oil reserves of the Kashagan field are estimated to range between 9 and 13 billion barrels. (ICE ALMATY)

Fonte notizia: INTERFAX