Abstract
In 1997, a consortium of major international oil firms and Kazakh State signed a 40-year agreement North Caspian Production Sharing Agreement which was designed to govern the project and develop the oil field. The Kashagan oil field is the first major offshore oil and gas development project in Kazakhstan which covers three fields of Kashagan, Kairan and Akoty. Kashagan Phase I commenced production in the year 2016. The Kashagan Field has one of the largest oil discoveries with approximately 9–13 billion barrels of recoverable oil. This shallow water oil field lies approximately 80 km offshore from the city of Atyrau in 3–4 m of water. The Kazak oil field covered an area of 75 km by 45 km and contained both oil and gas.
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