Kazakhstan to Continue Cooperation with Total – Nazarbayev
Wednesday 15 April 2015
ASTANA (Interfax-Kazakhstan) – President of Kazakhstan Nursultan Nazarbayev met yesterday with Total CEO Patrick Pouyanné in Astana, the president’s press office says in a press release. The sides discussed prospects of cooperation and future plans.
- Patrick Pouyanné
On October 22, 2014, following the death of Christophe de Margerie, CEO of the group, it was decided to separate the functions of “President of the Board of Directors” and “Executive Director”. Patrick Pouyanné was appointed CEO, while Thierry Desmarest, then honorary President of the group, was recalled for the position of temporary President.
“We are facing great challenges, and the Kashagan and other projects where the company works, is one of them. Total supports our Welding Institute and is involved in the solar energy projects. I believe that we will continue the tradition of friendly relations and cooperation all the areas”, Nazarbayev is quoted as saying.
Pouyanné said the foreign investors would greatly appreciate it if Kazakhstan maintained the favourable climate for the foreign investors and expressed a hope for further development of cooperation.
Total EP Kazakhstan owns a 16.81% holding in North Caspian Operating Company (NCOC), the operator of the Kashagan field. Oil production at Kashagan began on September 11, 2013. The field was to have reached the commercial production level by October 1, 2013. On September 24, 2013, however, the gas pipeline that ran from Island D to Bolashak Unit failed leading to a gas leak. The Kashagan field was shut down for repairs until October 6, when oil production was resumed. On October 9, 2013 another gas leak was detected on the same pipeline and, once again, the oil production was suspended and has not been resumed since then. The company said earlier that the gas leak in the pipeline was caused by sulfide stress cracking. According to the inspection report, the gas pipeline and oil pipelines now needs to be replaced.
The recoverable resources of the Kashagan field are estimated at 11 bln barrels and oil in place at nearly 35 bln barrels. Kashagan is considered to be the second largest oil field in the world following Prudhoe Bay Oil Field in Alaska, which was opened in 1968.