Kashagan oil maybe transported via Azerbaijan in 2017

BAKU. KAZINFORM Kazakhstan may start Kashagan oil export through Azerbaijan in 2017, National Business magazine reported.

"Next year if market conditions change, we may start Kashagan oil transshipment through Azerbaijan,” Kazakh Energy Minister Kanat Bozumbayev said at the 13th meeting of the Kazakh-Azerbaijani intergovernmental commission on economic cooperation on Sept. 22.

Kashagan oil may be transported by Azerbaijan’s railways or pumped through Azerbaijan’s pipelines, Kazakh minister said.

Kashagan is a large oil and gas field in Kazakhstan, located in the north of the Caspian Sea.

The geological reserves of Kashagan are estimated at 4.8 billion tons of oil. The total oil reserves amount to 38 billion barrels; some 10 billion out of them are recoverable reserves. There are large natural gas reserves at the Kashagan field - over one trillion cubic meters.

The production at the Kashagan field started in September 2013, but in October, it was suspended after a gas leak in one of the main pipelines. Oil production at Kashagan oil and gas field will be resumed on October 23.

Source: Trend 

Currently reading