Kashagan field development may be delayed again

ASTANA. April 23. KAZINFORM - Kashagan field development may be postponed again. This has been announced today by Erbolat Dossaev, the Minister for Economy and Budget Planning, at a meeting of the Government of Kazakhstan.

"The Ministry of Oil and Gas needs to consider the possibility of increasing the volume of oil production in other fields to ensure its throughput in the planned volumes taking into account the possible postponement of the beginning of Kashagan field development", said the Minister.

Meanwhile, Mynbayev, the Minister of Oil and Gas, after the meeting of the Government said that the timing of the field development can be carried on in September 2013.

"If the deposit opening begins after October in accordance with the contract of 2008, the consortium will incur expenses not reimbursable by Kazakhstan. Beginning from October 1 Kazakhstan does not reimburse any costs", said Mynbaev.

It should be recalled that earlier Kazinform reported that preparations were going for pilot development of the Kashagan field which was scheduled to start in June the current year. In the first stage production will reach 370 thousand barrels a day, and then the volume will increase to 450 thousand barrels.