Oil production at Kashagan to reach 13 mln tons by 2020

"The pipelines are replaced at the Kashagan oilfield ahead of schedule. Thus, the oil production at the field is believed to be resumed in 2016. Moreover, the commercial oil production at the Kashagan oilfield is expected to reach 13 mln tons by 2020," M. Mirzagaliyev said.

Besides, the deputy minister informed that the completion of project development at the Karachaganak oilfield and investment decision on implementation of the project on future expansion is expected to be made by 2018.

"It will allow to maintain the present oil production level in the long-term and create additional jobs," M. Mirzagaliyev told.

Besides, according to him, in the sphere of oil production, a decision by the partners of Kazakhstan on the issue of financing of the project on future expansion of Tengizchevroil, which will help to increase the oil production from 26 to 38 million tons a year and create 20 jobs over the implementation period is expected in the nearest future.

"Another task is to attract investments in geological exploration. The list of preferences for potential investors of the Eurasian project is already approved. We have begun negotiations with several international companies on the issue of participation in the project and financing of geological and geophysical works," the deputy minister added.