Japanese oil and gas company Inpex has opened an office in the capital city of Republic of Kazakhstan, Astana.
In an announcement on Thursday, Inpex said that the office in Astana would serve the company to promote developing giant Kashagan oil field in the Caspian Sea.
Inpex acquired an interest in the Area in 1998 and confirmed Kashagan oil field in 2000, followed by an announcement of commercial discoveries in 2002. Currently, the development works of the Kashagan oil field is ongoing.
Besides the Kashagan Oil Field, hydrocarbon reserves were also confirmed in four other structures: Kashagan Southwest, Aktote, Kairan and Kalamkas, Inpex says.
The Tokyo-based company further said that appraisal work of these structures is continuing in parallel with the development of the main Kashagan oil field with a view to expanding the total production of the area.
Inpex added it would continue to proceed its development activities in Kazakhstan.
The Kashagan Field is located in the northern part of the Caspian Sea, in the territorial waters of the Republic of Kazakhstan, and extends over a surface area of approximately 75 km x 45 km. It is estimated that Kashagan contains approximately 4.5 billion tons of oil.