'The Caspian Shelf Development' conference takes place in Atyrau

Heads and representatives of the largest oil and gas operators, international organizations and public authorities of Kazakhstan and Russia, leading experts of this sector participate in the event.

Issues of ecological safety of the Caspian shelf development and technological innovations and the regional projects will be considered within the two-day conference.

Besides, the participants will exchange their views on development of shelf accumulation in Kazakhstan and Turkmenistan and on innovative technologies in development and production at the shelf accumulations of the Caspian Sea Russian sector.

"The Caspian Region in the perspective will be play a significant role in the world oil production," deputy chief of the International Energy Agency (IAE) Richard Jones said.

According to him, it will demand a vast investments and efforts, that is why the Governments of the Caspian countries should provide transparency and contracts' immunity.

In addition, Richard Jones informed, the regional production will be at the level of 2,93 million barrels per day.

When the Kashagan field will be released in accordance with the planned production volume of 400 thousand barrels per day, by this time reduced production at older fields. Thus, the Kashagan oil substitute in total onshore oil.