The biggest offshore field Kashagan has reached the commercial oil production, Uzakbay Karabalin, Kazakhstan Minister of Oil and Gas, told journalists.
“Last evening we have been told that the commercial production volume has been achieved,” Karabalin said.
It was earlier reported that the commercial production volume is 75,000 barrels per day.
Oil production started on Kashagan on September 11, 2013. The project partners are KazMunaiGas (KMG), Italian Eni, US ExxonMobil, British-Dutch Royal Dutch Shell, French Total and Japanese Inpex. In addition, Chinese National Petroleum Corporation (CNPC) has bought 8.33% share in the project from KMG.—0—
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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