NC KMG expects the launch of Kashagan project at the end of 2016

Gulmariya ZhapakovaMarch 18, 2016

According to the statement of the chairman of the board of the National Company KazMunayGas (NC KMG) Sauat Mynbayev at the press conference on 17 March 2016 (source  http://ortcom.kz),  the first production of oil at Kashagan oil field is planned at October this year, and the volume of production will be increased to the commercial level at 75 thousands barrels of oil per day (kbopd). 

Our view

We expect the real start of commercial production at the Kashagan field of 75 kbopd closer to the end of 2017. We believe that even in the event of the start of production in 4Q2016, its volume will not exceed 40 kbopd by the end of 2016.