BG Group announces first lifting of Karachaganak oil

abarrelfullabarrelfull wrote on 17 May 2012 09:22

11 June 2004

Following BG Group’s announcement on 11 May that production from the Karachaganak Phase Two facilities had resumed, the Company today announced that the first shipment of Karachaganak oil for export has been loaded at the Novorossiysk sea terminal on the Black Sea.

BG Group’s total production from Karachaganak in 2004 is projected to be around 35 million barrels of oil equivalent.

Notes to Editors:

First production from the new facilities entered the connecting export pipeline to Atyrau on 15 July 2003. The facilities were subsequently shut down in September due to product becoming contaminated with caustic soda. Further to this, and as announced on 5 December 2003, oil sales were further delayed due to an issue associated with small bore pipe welds within the facilities. This has now been remedied.

The field is capable of producing more than 10 million tonnes per annum of liquids (200,000 barrels of oil per day) and up to 7 billion cubic metres per annum of sales gas (700 million standard cubic feet per day). Further phases of development are expected to follow, to increase liquids production, subject to the development of a market for the substantial additional gas volumes that would be produced.

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