50.24$US/1 Barrel
59.70$US/1 Barrel
55.10$US/1 Barrel
69.99$US/1 Barrel
75.61$US/1 Barrel
75.71$US/1 Barrel
77.66$US/1 Barrel
66.90$US/1 Barrel
66.75$US/1 Barrel
68.55$US/1 Barrel
50.11$US/1 Barrel
55.68$US/1 Barrel
55.28$US/1 Barrel
60.68$US/1 Barrel
64.72$US/1 Barrel
60.50$US/1 Barrel
62.00$US/1 Barrel
55.00$US/1 Barrel
60.00$US/1 Barrel
61.50$US/1 Barrel
485.00$US/MT
378.00$US/MT
705.00$US/MT
585.00$US/MT
508.00$US/MT
463.75$US/MT
368.00$US/MT
395.25$US/MT
678.00$US/MT
844.25$US/MT
SEATTLE (Oil Monster): By the end of this year, Kashagan, Kazakhstan's largest oil field, which is situated on the Caspian Sea shelf, is predicted to produce a total of one billion barrels of oil. Since the oilfield's commercial production started in November 2016, it has produced about 906 million barrels of oil. The oil field's recoverable resources are now valued at approximately 15.8 billion barrels.
Following a recent discussion between ExxonMobil Vice President Peter Larden and Kazakh Prime Minister Olzhas Bektenov, the forecast was made public. The discussion covered a range of topics, such as the adoption of cutting-edge technology and the development of infrastructure, in order to increase collaboration between the oil and gas sectors.
The two sides' meeting covered current events at the Kashagan and Tengiz areas. Additionally, stage 2A of the Kashagan development—which includes a gas processing plant with an estimated yearly capacity of 2.5 billion cubic meters—was one of the topics of discussion. The gathering made clear how urgent it is to start talking about stage 2B.
The oil production from the Kashagan offshore oil and gas field increased from 12.7 million tons in 2022 to 18.8 million tons in 2023.
YOU MAY ALSO BE INTERESTED IN:
Kazakhstan Emerged as EU's Third Largest Crude Oil Supplier
Kazakhstan's OPEC+ Defiance Could Push Saudi into a Painful Price War