Australia-based Jupiter Energy has announced that it has launched trial production from onshore oil and gas field Block 31, situated near the port city of Aktau in the oil-rich Mangistau Basin.
Jupiter expects the trial production to last for a duration of three years. During this period the oil will be sold at a discount in Kazakhstan.
Once the energy company ramps production to full capacity, it will export the oil from Kazakhstan at prevailing prices.
Jupiter stated : \"More detail on the plans to move to full production will be released in the second half of this year.\"
Jupiter expects the trial production to last for a duration of three years. During this period the oil will be sold at a discount in Kazakhstan.
Once the energy company ramps production to full capacity, it will export the oil from Kazakhstan at prevailing prices.
Jupiter stated : \"More detail on the plans to move to full production will be released in the second half of this year.\"