Kazakhs May Boost Other Oilfields Amid Kashagan Delay

Kazakhstan’s oil ministry should “work out a possibility” to boost oil output at other fields given production delays at Kashagan, the country’s largest deposit, the Economy and Budget Planning ministry said.

Increasing oil production at other fields will compensate for a reduced contribution from Kashagan and help achieve a target of 6 percent economic growth this year, Economy and Budget Planning Minister Erbolat Dosayev told a Cabinet meeting in Astana, according to an e-mailed copy of his speech.

The Kashagan oilfield will probably start production by September at the latest, the Interfax newsagency cited Kazakh Oil Minister Sauat Mynbayev as saying today. The Caspian Sea field, which would be profitable with an oil price of $90 or $100 a barrel, was scheduled to start output by June, according to Novosti-Kazakhstan.

Before it's here, it's on the Bloomberg Terminal.