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UPDATE 2-Giant Kashagan oilfield ramps up output after accident

Tue, 08th Oct 2013 07:41

* Pumping 61,000 barrels per day after resuming production

* Kashagan to boost output to 12 mln T in 2015 from 8 mln Tin 2014

* Kazakhstan's overall oil output seen at 108 mln T by 2025

By Mariya Gordeyeva

ASTANA, Oct 8 (Reuters) - Kazakhstan's giant Kashaganoilfield is pumping 61,000 barrels per day (bpd) after resumingproduction halted by an accident last month, Sauat Mynbayev, thehead of Kazakh state oil and gas firm KazMunaiGas, said onTuesday.

An international consortium developing the mammoth reservoirhas to achieve what is called "commercial output" of 75,000 bpdthis month in order to meet contractual obligations.

Work at the field in the Caspian Sea off western Kazakhstan,which is one of the world's largest oil finds in decades, washalted on Sept. 25 after a gas leak was detected.

Production was restarted "without complications" on Oct. 6,the Oil & Gas Ministry said.

Prior to the accident, Kashagan was producing between 48,000and 50,000 bpd, according to senior Kazakh officials.

"They have now achieved 61,000 bpd," Mynbayev told reporterson the sidelines of an annual oil and gas conference. "They havemade up for the lost tempo."

The accident will not lead to a revision of plans to produce8 million tonnes of crude next year, he said.

That is set to rise to 12 million tonnes of crude in 2015,Kazakh Oil & Gas Minister Uzakbai Karabalin told reporters onTuesday.

Central Asia's largest economy and the second-largest oilproducer in the former Soviet Union after Russia, Kazakhstanplans to boost oil output to 82 million tonnes this year from79.2 million in 2012.

Kazakhstan's overall oil production, which includes theonshore Tengiz oilfield and the giant Karachaganak oil and gascondensate deposit, is set to rise to 108 million tonnes by2025, both Mynbayev and Karabalin said on Tuesday.

It took about 13 years and some $50 billion before output atKashagan was launched on Sept. 11.

The field is estimated to contain 35 billion barrels of oil,of which 9 billion to 13 billion barrels are recoverable.

KazMunaiGas, Italy's ENI, U.S. majorExxonMobil, Royal Dutch Shell and France'sTotal each hold 16.81 percent stakes in Kashagan.Japan's Inpex owns 7.56 percent.

China National Petroleum Corp (CNPC) acquired an8.33 percent stake this year.

Estimated to be worth $5 billion, that deal followedKazakhstan's decision in July to use its pre-emptive rights tobuy an 8.40 percent stake from U.S. oil major ConocoPhillips in the field for a similar price.

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