BAKU, Azerbaijan, August 12
By Nargiz Sadikhova - Trend:
Japanese INPEX energy is continuing the evaluation of the Aktote/Kairan structures in Kazakhstan, the company told Trend.
The company noted that the evaluation period is expected to go on until 2022 and development scenario studies continue at the moment.
The company has a 7.56 percent of Participating Interest in Kazakhstan’s Kashagan field and the PSA is relevant until 2031.
Current PSC provides options to extend the contract period by 10 years twice (until 2041).
The Kashagan field is one of the three largest oil fields located in the northern part of the Kazakh sector of the Caspian Sea. Its recoverable reserves reach approximately 9-13 billion barrels (1-2 billion tons) of oil.
The first commercial oil production started at Kashagan in 2016. The project operator North Caspian Operating Company (NCOC) shipped the first million tons of oil for export in early 2017.
NCOC has reached a record-breaking volume of oil extraction at the field (390,000-400,000 barrels a day) in 2019.
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