Eni announces that first oil from the giant Kashagan oil field has been produced. The oilfield is located in the North Caspian Sea, approximately 80 kilometers southeast of Atyrau, in Kazakhstan. Eni holds a 16.81% stake in the consortium for the development of Kashagan and through Agip KCO is responsible for developing and start of production of the field.
The other partners in the consortium, represented by the operator NCOC (North Caspian Operating Company) which operates within the North Caspian Sea Production Sharing Agreement (NCSPSA), are KazMunayGas (16.81%), ExxonMobil (16.81%), Shell (16.81%), Total (16.81%), ConocoPhillips (8.4%) and Inpex (7.56%).
In the initial phase output will grow up to 180,000 barrels per day. Afterwards, the production will increase progressively up to 370,000 barrels of oil equivalent per day.
Kashagan is one of the largest oil fields discovered in the last 40 years, with estimated reserves of 35 billion barrels of oil in place. Considering the size, the specifications, the environmental and logistical characteristics, Kashagan is one of the most complex and challenging industrial projects worldwide.