Nazarbayev - Kazakhstan to become one of the Top 5 Oil Exporters

    By E. Ostapenko
    Kazakhstan will become one of the top 5 largest oil exporters across the world in 2018-2019, President Nursultan Nazarbayev said during his working visit to the Atyrau Oblast.
    "Some 50 million tons of oil per year will be produced during the first stage of the experimental-industrial development of the Kashagan field. The figure will be brought to 75 million tons per year in the second stage, by 2018-2019. Thus, Kazakhstan will join the list of the largest oil exporters," Kazinform reports, quoting President Nazarbayev as saying.
    Estimated oil reserves at the Kashagan field in Kazakhstan’s sector of the Caspian Sea are at least 10 billion tons of oil. The field’s gas reserves are over 1 trillion cubic meters.
    During his visit to the Atyrau Oblast, Nazarbayev surveyed artificial island D at the Kashagan field in the Caspian Sea.
    He confirmed that the launch of the first crude oil production at the Kashagan field will not be rescheduled.
    "We are close to getting the first oil in late 2012. Then, the oil will be transported to the Bolashak plant. The first stage stipulates the production of 50 million tons of oil per year," Nazarbayev added, Trend reports.