| Kashagan Field | |
|---|---|
  Location of Kashagan Field | |
| Country | Kazakhstan |
| Region | Pre-Caspian Basin |
| Location | Near Atyrau |
| Offshore/onshore | Offshore |
| Coordinates | 46°10′N 51°35′E / 46.167°N 51.583°E |
| Operator | North Caspian Operating Company |
| Partners | Eni (16.81%) KazMunayGas (16.88%) Royal Dutch Shell (16.81%) TotalEnergies (16.81%) ExxonMobil (16.81%) China National Petroleum Corporation (8.4%) Inpex (7.56%) |
| Field history | |
| Discovery | 2000 |
| Start of development | 2001 |
| Start of production | Sept. 2013[1] |
| Abandonment | after 2040 |
| Production | |
| Current production of oil | 400,000 barrels per day (~2.0×107 t/a) |
| Year of current production of oil | 2019 |
| Estimated oil in place | 38,000 million barrels (~5.2×109 t) |
| Recoverable oil | 13,000 million barrels (~1.8×109 t) |
| Producing formations | Carboniferous limestones |
Kashagan Field (Kazakh: Қашаған кен орны, Qaşağan ken orny) is an offshore oil field in Kazakhstan's zone of the Caspian Sea.[2] The field, discovered in 2000, is located in the northern part of the Caspian Sea close to Atyrau and is considered the world's largest discovery in the last 30 years, combined with the Tengiz Field.[3] When discovered, it was the second largest oil field in the world.[4]
It is estimated that the Kashagan Field has recoverable reserves of about 13 billion barrels (2.1×109 m3) of crude oil. Harsh conditions, including sea ice during the winter, temperature variation from −35 to 40 °C (−31 to 104 °F), extremely shallow water and high levels of hydrogen sulfide, together with mismanagement and disputes, make it one of the most challenging oil megaprojects.[5][6] Commercial production began in September 2013.[1] It has been designated as the main source of supply for the Kazakhstan-China oil pipeline.[7] CNN Money estimates that development of the field had cost US$116 billion as of 2012, which made it the most expensive energy project in the world,[8][9] while other sources report the cost at up to $50 billion.[5][6]
A stake in the field was acquired by the Chinese government in September 2013 after Xi Jinping struck a deal with Kazakhstan for around $5 billion.[10]
- ^ a b Cite error: The named reference
nyt11092013was invoked but never defined (see the help page). - ^ Yenikeyeff, Shamil (November 2008). "Kazakhstan's Gas: Export Markets and Export Routes" (PDF). Oxford Institute for Energy Studies. Retrieved 17 November 2011.
- ^ Johnston, Daniel (2003). International Exploration. Economics, Risk, and Contract Analysis (1 ed.). PennWell Corporation. p. 199. ISBN 0-87814-887-6.
- ^ Esty, Benjamin C., and Florian Bitsch. "The Kashagan Production Sharing Agreement (PSA)." Harvard Business School Case 213-082, May 2013. (Revised September 2013.)
- ^ a b Crooks, Ed; Chazan, Guy (26 November 2012). "Conoco sells stake in Kashagan field". Financial Times. Retrieved 8 December 2012.
- ^ a b Demytrie, Rayhan (7 December 2012). "Development challenge of Kazakhstan's giant oilfield". BBC News. Retrieved 8 December 2012.
- ^ "Caspian oil exports heading east". Asia Times. 9 February 2005. Archived from the original on 27 September 2011. Retrieved 20 May 2007.
{{cite news}}: CS1 maint: unfit URL (link) - ^ "Kazakhstan's Kashagan tagged world's most expensive energy project". Tengrinews.kz. 29 November 2012. Retrieved 1 April 2014.
- ^ Hargreaves, Steve (27 August 2012). "10 most expensive energy projects in the world". CNNMoney. Retrieved 1 April 2014.
- ^ Mariya Gordeyeva (7 September 2013). "China buys into giant Kazakh oilfield for $5 billion". Reuters. [dead link]