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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]
In 2010, the Republic of Kazakhstan cancelled the Subsoil Use Contracts for Borankol and the neighbouring Tolkyn gas field. [1] The total proven reserves of the Borankol oil field are around 21.3 million barrels (3×10 6 tonnes), and production is centered on 10,000 barrels per day (1,600 m 3 /d). [2]
The oil field is operated and owned by CITIC Resources. The total proven reserves of the oil field are around 135 million barrels (18×10 6 tonnes), and production is centered on 18,600 barrels per day (2,960 m 3 /d). [1]
The IEA forecasts a major oil supply glut in 2025, ... Oversupply would rise to 1.4 million barrels per day in 2025 if OPEC+ follows through on plans to unwind quotas in April, the IEA said. ...
U.S. oil has been stuck around $70 per barrel for weeks and traded little changed at $68.75 on Thursday after the announcement, down from $80 in August. ... The knit jacket that shoppers say is ...
Oil at $150 a barrel is not "outside the realm" of possibilities, says one energy trader. "It's hard to take anything off the table right now. Russia is starting to retaliate with its own response ...
With 9 – 11 billion barrels, Kashagan is the largest oil field outside of the Middle East. It is estimated to come on stream in 2016 and reach production of 1.5 million barrels per day at its peak. Kazakhstan is a major oil producer with an estimated total production of 1.64 million barrels per day in 2013.
The CPC pipeline transfers about 1% of global oil supply [1] and handles almost all of Kazakhstan's oil exports. [2] In 2021, the pipeline exported up to 1.3 million barrels per day (bpd) [2] of Kazakhstan's main crude grade, light sour CPC Blend, which represented 80% of Kazakhstan's total oil production of 1.6 million bpd.