Mary Warlick: Kazakhstan should continue developing Kashagan
The question was whether it is commercially efficient and is it worth continuing such large projects as Kashagan taking into account low oil price. According to Mary Warlick Yes, development and operation of the oil field is still important for ensuring energy security.
Today Mary Warlick has held a briefing for journalists in the U.S. Embassy in Astana.
"There is a risk that if production doesn't continue, the condition of the global market will change at some point as it used to happen before, and we may face deficiency of these resources. It will have a dramatic effect for countries. Therefore we need clarity, predictability of the market, especially for a medium-term and long-term period", - Warlick said.
"... American companies have been investing in Kazakhstan's economy, oil-and-gas sector and other sectors for many years now, and it is very pleasant for us to see these projects being carried through and additional investments attracted", - Mary Warlick concluded.
Kashagan field is one of the largest oil discoveries for the last 40 years, and its reserves equal about 9-13 billion oil barrels. Kashagan is the most difficult industry project in the world in terms of complexity and special specifics of the production safety, designing, logistics and severe climatic and ecological conditions.
Development of Kashagan will be performed by several stages. At present stage 1, also called "trial development" is being conducted. The subsequent stages of development being planned.