News 2024
February 2017Kashagan
The correspondent of Kazinform reports the final cost of Kashagan field development, put into operation in the autumn of 2016 in the Kazakhstani sector of the Caspian Sea. "Currently, the amount of investments for the North Caspian Sea project, aimed at offshore Kashagan field development, amounts to more than 55 bln USD," said Bruno Jardin, Managing Director of North Caspian Operating Company B.V.
Let’s remind us that previously various amounts of investments were talk about, referring to the project of Kashagan development. The largest amount, which was mentioned without reference to the official sources, exceeded 130 bln USD. “Operational cycle of 1st stage of the Kashagan field development project will take tens of years.
It is necessary to consider it with a long-term perspective rather than in the context of a short period of the current economic conditions. We cannot make assumptions about the future oil price dynamics. Moreover, our task is to develop the field and to produce the oil. I think, that the calculations, tied to the price fluctuation, are made by the companies, having the shares in the field," explained B. Jardin, replying to the question: how many years will it take to repay the project expenditures at 50 USD per barrel of oil.