U.S. Ambassador to Kazakhstan Kenneth J. Fairfax gave his comments on Kashagan, Tengiz and Karachaganak.
According to Kazakhstan geologists, geological reserves of Kashagan are estimated at 4.8 billion tons of oil.
Chairman of KazMunaiGas National Oil Company told about plans for Karachaganak field development at the press-conference of the 6th Eurasian Forum KAZENERGY.
At the same time, according to him, “foreign investments into the processing sector are growing”.
The field was discovered in 2000 and was one of the larger discoveries in that decade, it is estimated that the Kashagan Field has commercial reserves from 10 billion barrels.
North Caspian Operating Company (NCOC) was fined 200 million tenge ($1.3 million) for ecological violations.
Oil & Natural Gas Corp and GAIL India Ltd. are planning to buy part of ExxonMobil's stake in the project developing Kashagan oil field.
His comments followed the decision of the energy giant Royal Dutch Shell to close its offices in Kazakhstan on May 30, after laying off its staff.
KazMunaiGas national Oil Company does not rule out transferring its share in Kashagan to its subsidiary KazMunaiGas EP, KMG President Kairgeldy Kabyldin said in Almaty May 26.
It was promised by Paolo Scaroni, Eni Chief Executive Officer and General Manager.
Proved hydrocarbon reserves of the Caspian Sea shelf make 3.1 trillion cubic meters of gas and 2.95 billion tons of oil.
For the last decade investments into the O&G sector totaled $107 billion, with about 60% of the investments being injected into projects with global oil majors: Minister of Oil and Gas Sauat Mynbayev.