The oilfield lies some 4,200 meters below the shallow waters of the northern part of the Caspian Sea and is highly pressured (770 bar of initial pressure).
Chairman of KazMunaiGas National Oil Company told about plans for Karachaganak field development at the press-conference of the 6th Eurasian Forum KAZENERGY.
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.
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.
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.
