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Net Cash Flow from Kashagan $ 180 Million

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Kashagan is the first offshore oil and gas field in the Kazakh sector of the Caspian Sea

“Our preliminary estimates show that the fund Samruk-Kazyna and KazMunayGaz (KMG) together will receive a net cash flow of about $ 180 million from this project after investment in 2017. This means that the project covers its operating costs and capital investments to maintain and increase production rates and already generates a positive cash flow for its partners,” said Executive Vice President – KMG Financial Director Dauren Karabayev at a briefing in Astana.

According to him, the rate of production at Kashagan is currently about 180,000 barrels per day. By the end of 2017, the production is expected to increase to 370,000 barrels per day.

Kashagan is the first offshore oil and gas field in the Kazakh sector of the Caspian Sea, as well as the largest international investment project in the country.

* The shareholders of NCOC are KMG Kashagan B.V. (16.877%), Shell Kazakhstan Development B.V. (16.807%), Total EP Kazakhstan (16.807%), Agip Caspian Sea B.V. (16.807%), ExxonMobil Kazakhstan Inc. (16.807%), CNPC Kazakhstan B.V. (8.333%), and Inpex North Caspian Sea Ltd. (7.563%).

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