Kashagan Oil Exports Reach Milestone

Operator of the field in the Caspian Sea said it’s trying to increase production slowly in an effort to build confidence.

By the end of January, the operator of the Kashagan oil field in the Kazakh waters of the Caspian Sea said it exported more than 70 million barrels of oil.

The Kashagan oil field in Kazakhstan is one of the country’s brighter prospects, though development has been impeded by a series of issues with infrastructure in a complex reservoir environment. The field was declared a commercial prospect in 2002 and, five years later, Italian energy company Eni, a field partner, said Kashagan could produce more than 1.5 million barrels per day. Preliminary estimates put the total reserve estimate above 9 billion barrels.

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