Oil output at Kazakhstan’s Kashagan Field reached an all-time high of 400,000 barrels per day (bbl/d) on June 4, three sources familiar with daily production data told Reuters.
Output has risen after a successful completion of maintenance on the oil field in May.
Prior to the maintenance, daily oil production on Kashagan oil field was at 330,000-340,000 bbl/d.
North Caspian Oil Co. (NCOC), Kashagan’s project operator, and the Kazakhstan Energy Ministry did not immediately respond to requests for comment.
Frontera Energy, Geopark, Ecopetrol , Hocol, Parex Resources, Gran Tierra Energy and ONGC Videsh have put in a total of 19 offers, the national hydrocarbons agency said.
Production is expected to last some 18 years and bring in total revenue to Navitas and its partners of about $11.3 billion, the company said in a statement.
Western Europe’s largest oil producer and Europe’s second-largest gas exporter behind Russia is seeing a stronger-than-expected upswing in petroleum investments as oil firms ramp up exploration and developments, Statistics Norway said on May 28.