The giant Kashagan oil field located in Kazakhstan’s North Caspian Sea is one of the largest fields discovered in recent history. The field was extremely challenging to develop and its cost skyrocketed from original estimates around $60 billion to a reported $136 billion. After numerous delays, first oil was produced from Kashagan on September 11, 2013.

Some of the world’s largest international oil companies are members of the consortium developing the field, which includes Kazakh state company Kazmunaigaz (16.81%), ExxonMobil (16.81%), Shell (16.81%), Total (16.81%), Eni (16.81%), ConocoPhillips (8.4%) and Inpex (7.56%). In the initial phase output will increase to 180,000 barrels per day by end 2013 and production will rise progressively up to 370,000 barrels of oil equivalent per day.

“Kashagan is one of the largest oil fields discovered in the last 40 years, with estimated reserves of 35 billion barrels of oil in place. Considering the size, the specifications, the environmental and logistical characteristics, Kashagan is one of the most complex and challenging industrial projects worldwide.” – Eni