April 14, 2014 / 8:55 AM / 5 years ago

Kazakhstan looks to offset Kashagan oil field failure

ASTANA, April 14 (Reuters) - Kazakhstan wants to offset the possible failure of the Kashagan oil project to produce this year by increasing output at other projects by at least 1.5 million tonnes (30,000 barrels per day), the Kazakh economy minister said on Monday.

Production at the offshore deposit, the world’s biggest oil find in 35 years, started in September but was halted in early October after the detection of gas leaks in the $50 billion project’s pipeline network.

“Additional work and negotiations with users of large subsoil reserves will be held about the possible increase of output and exports from other fields by at least 1.5 million tonnes,” Kazakh Economy and Budget Planning Minister Yerbolat Dosayev said. (Reporting by Raushan Nurshayeva; writing by Vladimir Soldatkin, editing by Jason Bsuh)

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