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Kazakhstan interested in transporting oil via BTC
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Sunday, 25 Nov 2012

Trend reported that Kazakhstan is interested in transporting oil within the second development phase of the Kashagan field through the Baku Tbilisi Ceyhan oil pipeline."

Mr Natiq Aliyev Azerbaijani Minister of Industry and Energy said that the parties discussed this issue at the ninth session of the Azerbaijan and Kazakhstan intergovernmental commission on economic cooperation in Astana in September.

Transportation of 23 million tons of Kazakh oil is planned at the initial stage within the Trans Caspian oil transportation system and this figure will increase to 35 million tonnes and possibly up to 56 million tonnes in the future.

Kashagan is one of the largest fields discovered in the past 40 years. According to analysts, Kashagan has the potential to unite the top 5 largest oil companies in the world. Kazakh geologists estimate geological oil reserves at 4.8 billion tonnes. According to the project operator, total oil reserves are 38 billion barrels with a recoverable volume of about 10 billion barrels. Natural gas reserves are estimated at over 1 trillion cubic meters.

The companies developing the project are planning to begin commercial production at Kashagan in the Q1 of 2013.

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