Kazakhstan, Astana, Nov 7 /Trend D. Mukhtarov/
There will be no delays in first oil from Kashagan, ex-head of the National Company KazakhOil (the first name of JSC NC KazMunaiGas), and now director general of the directorate under construction enterprises of KazMunaiGas Nurlan Balgimbaev said.
He noted that the recent statement of chairman of the Ecological Union associations and enterprises of Kazakhstan "Tabigat" ("Nature") Mels Eleusizov that development of Kashagan is premature, is wrong.
"I assure you that today the most modern equipment is installed at Kashagan, which can ensure the safety of oil extraction," he said.
It is too early to develop the Kazakh oil and gas field Kashagan, chairman of the Kazakh Environmental Union of Associations and Enterprises Tabigat (Nature) Mels Eleusizov said earlier.
"Kashagan and its development is a big risk for us," he said.
He added that it is necessary to focus on onshore fields.
"I believe that at present, we do not need Kashagan," the expert said. "It should be left to future generations to decide when the the new technologies will be available."
Kashagan is one of the largest fields discovered in the past 40 years. According to analysts, it has the potential to unite the top five largest oil companies in the world. Kazakh geologists estimate geological oil reserves at 4.8 billion tons. According to the project operator, total oil reserves are 38 billion barrels (six billion tons), with a recoverable volume of about 10 billion barrels. Natural gas reserves are estimated at over one trillion cubic meters.
Agreement on the settlement of certain questions of the North-Caspian project between the Government of Kazakhstan and the contracting companies of the North-Caspian project. In accordance with the agreements sides approve amendment to plan and budget of development of the Kashagan field, which allows to reach commercial production in Kashagan from December 2012 to June 2013.
During endorsing the transfer dates of commercial production, Kazakhstan increased its stake in the project from eight per cent to 16.8 per cent and achieved payment of royalties which was absent in the original agreement. In late June 2008 another memorandum was signed according to which the period of commercial oil production at Kashagan in the Caspian Sea was transferred to 2013.
At present, the Kashagan project participants are Eni, Royal Dutch Shell, Exxon Mobil, Total and KMG Kashagan B.V. ( subsidiary of KazMunaiGas,) which owns equal shares (16.81 per cent), as well as ConocoPhillips - 8.4 per cent and Japan's Inpex - 7.56 per cent.