NCOC: Kashagan Oil Field Phase 1 To Be 72% Complete By End 09

Sept 23. Dow Jones

NCOC: Kashagan Oil Field Phase 1 To Be 72% Complete By End 09The first phase of the giant Kashagan oil field development in the Caspian Sea will be 72% complete by the end of this year, the field’s operator said Thursday.

Pierre Offant, the managing director of the North Caspian Operating Company also told an energy conference in the Kazakh capital Astana that the second phase of the field’s development is currently in the feasibility stage.

He maintained that first oil from Kashagan will be produced in 2012, and targeted initial production is 450,00 barrels of oil a day.

http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=200909240654dowjonesdjonline000344&title=ncoc-kashagan-oil-field-phase-1-to-be-72-complete-by-end-09

Share