The North Caspian Project is the first major offshore oil and gas development project in Kazakhstan.
It comprises four fields: Kashagan, Kairan, Aktoty, and Southwest Kashagan. The giant Kashagan field is one of the largest oil fields discovered in the last four decades, with recoverable reserves of approximately 9-13 billion barrels (1-2 billion tonnes). The Kashagan offshore field reservoir is located 80 km from the city of Atyrau at a depth of 3-4 meters underwater and more than 4 kilometers (4,200 meters) below the seafloor.
In 2016, commercial oil production began at the Kashagan offshore field for the first time in Kazakhstan's history. The Project Operator, North Caspian Operating Company N.V. (NCOC) completed a major pipeline replacement project ahead of schedule and reactivated the first wells at the offshore complex on September 28. The first President of the Republic of Kazakhstan, Nursultan Nazarbayev, congratulated the project participants and veterans on this milestone during his visit to Atyrau on December 7, 2016.
The first million tonnes of oil were exported in early 2017, and by mid-2017, NCOC achieved actual production of over 200,000 barrels per day while meeting safety requirements. Given the scale and technical challenges, the North Caspian Project will be implemented in stages. The estimated cost of Phase 1 of the Kashagan development, which began commercial production in 2016, is approximately US$55 billion.
It comprises four fields: Kashagan, Kairan, Aktoty, and Southwest Kashagan. The giant Kashagan field is one of the largest oil fields discovered in the last four decades, with recoverable reserves of approximately 9-13 billion barrels (1-2 billion tonnes). The Kashagan offshore field reservoir is located 80 km from the city of Atyrau at a depth of 3-4 meters underwater and more than 4 kilometers (4,200 meters) below the seafloor.
In 2016, commercial oil production began at the Kashagan offshore field for the first time in Kazakhstan's history. The Project Operator, North Caspian Operating Company N.V. (NCOC) completed a major pipeline replacement project ahead of schedule and reactivated the first wells at the offshore complex on September 28. The first President of the Republic of Kazakhstan, Nursultan Nazarbayev, congratulated the project participants and veterans on this milestone during his visit to Atyrau on December 7, 2016.
The first million tonnes of oil were exported in early 2017, and by mid-2017, NCOC achieved actual production of over 200,000 barrels per day while meeting safety requirements. Given the scale and technical challenges, the North Caspian Project will be implemented in stages. The estimated cost of Phase 1 of the Kashagan development, which began commercial production in 2016, is approximately US$55 billion.