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Giant Kashagan oil field ramps up after accident

  • Kazakhstan's giant Kashagan oilfield is pumping 61K bbl/day after resuming production halted by an accident last month, according to the head of Kazakh state oil and gas firm KazMunaiGas.
  • An international consortium developing the huge reservoir estimated to contain 9B-13B recoverable barrels of oil has to achieve what is called "commercial output" of 75K bl/day this month to meet contractual obligations.
  • KazMunaiGas, ExxonMobil (XOM), Royal Dutch Shell (RDS.A, RDS.B), Eni (E) and Total (TOT) each hold 16.81% stakes in Kashagan, China National Petroleum (PTR) acquired 8.33% this year, and Japan's Inpex owns 7.56%.
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