Energy ministry announces terms of possible transportation of Kashagan oil through Azerbaijan
Five to seven million tons of oil from Kashagan oil field in Kazakhstan will be possible to transport through Azerbaijan from 2013, Industry and Energy Minister Natig Aliyev said at the event dedicated to the Independence Day of Kazakhstan, yesterday in Baku.
Roughly $33 billion has already invested in the Kashagan field development in the Kazakh sector of the Caspian Sea. Up to 50 million tons of oil a year will be produced in the first stage of Kashagan development. Up to 75 million tons of oil per year will be produced in the second stage in 2018-2019. Probable oil reserves in the Kashagan field are no less than 10 billion tons and gas reserves are more than 1 trillion cubic meters.
According to Aliyev, transportation of Kashagan oil will be carried out within the framework of the Trans-Caspian oil transportation system, which is part of the Kazakh Caspian oil transportation system (KCTS).