Eni announces first oil from the Kashagan field has been produced

9/12/2013

Eni announces first oil from the Kashagan field has been produced

SAN DONATO MILANESE -- Eni said that first oil from the giant Kashagan oil field has been produced. The oilfield is located in the North Caspian Sea, 80 km southeast of Atyrau, in Kazakhstan. Eni holds a 16.81% stake in the consortium for the development of Kashagan and through Agip KCO is responsible for developing and start of production of the field.

The other partners in the consortium, represented by the operator NCOC (North Caspian Operating Company) which operates within the North Caspian Sea Production Sharing Agreement (NCSPSA), are KazMunayGas 16.81%, ExxonMobil 16.81%, Shell 16.81%, Total 16.81%, ConocoPhillips 8.4% and Inpex 7.56%.

In the initial phase output will grow up to 180,000 bpd. Afterwards, the production will increase progressively up to 370,000 bopd.

Kashagan is one of the largest oil fields discovered in the last 40 years, with estimated reserves of 35 Bbbl of oil in place. Considering the size, the specifications, the environmental and logistical characteristics, Kashagan is one of the most complex and challenging industrial projects worldwide.

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