The North Caspian Operating Company (NCOC), on behalf of the North Caspian Sea PSA consortium, has said the first well was opened and the initial volumes of oil are being produced from the Kashagan field.
The first phase of production is from eight wells on an artificial island complex.
NCOC previously said: “During 2013-14, production will be progressively ramped up to the design capacity from 180,000b/d in the first stage, and up to 370,000b/d in the second stage.”
Kashagan is 75km southeast of the city of Atyrau, capital of Atyrau province, Kazakhstan. The reservoir lies about 4200m deep, beneath 3–5m water, and extends over an area of about 75km by 45km.
NCOC says the Kashagan field represents the largest oil accumulation in the north Caspian Sea with estimated reserves of approximatelyabout 35 billion bbl in place.
NCOC (North Caspian Operating Company) is the operator, with consortium members KazMunayGas (16.81% stake), ExxonMobil (16.81%), Shell (16.81%), Total (16.81%), ConocoPhillips (8.4%) and Inpex (7.56%) and Eni (16.81%).