Production ramp-up at Kashagan will run at a much slower pace than it was planned

Caspian Energy (CE):  How will the Kashagan project develop in 2017-2018? How much oil and gas will be produced in the longer term?

Kanat Bozumbayev, Minister of Energy of the Republic of Kazakhstan: Oil production increase up to 370,000 barrels per day at the giant Kashagan field will run at a much slower pace that it was expected earlier. 

Since the start-up of gas injection in August of this year the company has got new data about the reservoir performance.  Pressure reduction and relevant increase of production rate will run a little slower than it was expected at the beginning. 

It is a field with enormous reserves and its operating development cycle last for tens of years. The equipment is now operating in a routine mode and its service reliability complies with estimated figures and even exceeds them in certain cases.  NCOC is fully committed to reach the estimated capacity (370,000 barrels per day) as soon as possible. I think we will need 2018 to reach this production rate and we will keep studying the possibilities of accelerating this process.