Kazakhstan may start Kashagan oil export through Azerbaijan in 2017.
“Next year if market conditions change, we may start Kashagan oil transshipment through Azerbaijan”, Kazakh Energy Minister Kanat Bozumbayev said.
Kashagan oil may be transported by Azerbaijan’s railways or pumped through Azerbaijan’s pipelines, Kazakh minister said.
Kashagan is a large oil and gas field in Kazakhstan, located in the north of the Caspian Sea.
The geological reserves of Kashagan are estimated at 4.8 billion tons of oil. The total oil reserves amount to 38 billion barrels; some 10 billion out of them are recoverable reserves. There are large natural gas reserves at the Kashagan field – over one trillion cubic meters.
The production at the Kashagan field started in September 2013, but in October it was suspended after a gas leak in one of the main pipelines. Oil production at Kashagan oil and gas field will be resumed on October 23. (Trend/Business World Magazine)