Medical and Hospital News  
OIL AND GAS
Milestone reached for Kashagan oil field
by Daniel J. Graeber
Astana, Kazakhstan (UPI) Jan 13, 2017


disclaimer: image is for illustration purposes only

More than 7 million barrels of crude oil have been produced safely from the Kashagan oil field in Kazakhstan since September, the operator said.

The North Caspian Operating Co., a joint venture operating the giant oil field in the Kazakh waters of the Caspian Sea, announced Friday it's produced 7.3 million barrels of crude oil and an ultra-light form of oil called condensate since production resumed in late 2016. The consortium added that volume was exported to the foreign market.

Production at Kashagan, which holds an estimated 16 billion barrels of oil, was halted in October 2013, less than a month after it started, when a pipeline associated with the field cracked open. Operations resumed in September and by October, the consortium said the first batch of crude oil from the field was being processed and destined for exports.

Production so far is around 180,000 barrels per day. The NCOC said that, once production optimization techniques are fully utilized, production should reach 370,000 bpd.

According to the economists at the Organization of Petroleum Exporting Countries, Kazakhstan was producing around 1.38 million bpd last year with the main share of growth coming from Kashagan.

"Kazakh oil supply in 2017 will grow by 210,000 bpd to average 1.77 million bpd, through Kashagan's production ramp-up," OPEC said in its December market report.

Kazakhstan is one of the non-OPEC members committed to a supply-side adjustment aimed at easing the glut of oil on the market that dragged crude oil prices lower last year. In October, OPEC said Brent crude oil prices came under pressure in part from increased output from Russia and Kazakhstan's "massive" Kashagan oil field.

Kazakhstan is still expected to be a main contributor of oil production from countries outside of OPEC.


Comment on this article using your Disqus, Facebook, Google or Twitter login.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Oil prices stage weak rally ahead of U.S. market report
New York (UPI) Jan 10, 2017
Crude oil prices notched only modest gains before trading opened in New York, even as Russia said it was trimming oil output as obligated under an OPEC deal. Crude oil prices lost major ground in Monday trading following a report on December exploration and production activity from oilfield services company Baker Hughes. The December rig count, which serves as an indicator of the appeti ... read more


OIL AND GAS
Memory of lost Cyprus home haunts three generations

Six climbers die of cold climbing Guatemala volcano

Debt traps threaten Nepal quake victims

Rebuild hearts as well as homes, pope tells quake victims

OIL AND GAS
China to offer global satellite navigation service by 2020

Austrian cows swap bells from 'hell' for GPS

Russia, China Making Progress in Synchronization of GLONASS, BeiDou Systems

Alpha Defence Company To Make Navigation Satellites For ISRO

OIL AND GAS
Hair today, hungover tomorrow as young Japanese come of age

New study finds evolution of brain and tooth size were not linked in humans

Ancient DNA can both diminish and defend modern minds

Archaeologists: Chaco Canyon inhabitants likely relied on imported food

OIL AND GAS
Rusty patched bumble bee listed as endangered species

Routes of migratory birds follow today's peaks in resources

'Drunken walk' math helps explain ecological invasions

Birds with big bills spend more time keeping warm

OIL AND GAS
Study: Retroviruses are nearly 500 million years old

Retroviruses 'almost half a billion years old'

Zimbabwe bans street food over typhoid, cholera fears

Why odds are against a large Zika outbreak in the US

OIL AND GAS
China graft drive has punished 1.2 million: watchdog

Hong Kong's former leader abused power: prosecution

China to punish two top anti-corruption officials: Xinhua

Pro-democracy Hong Kong lawmaker condemns 'violent attacks'

OIL AND GAS
OIL AND GAS
Property and credit booms stablise China growth









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.