28.02.2017 ATYRAU. KAZINFORM Final cost of the Kashagan project has been announced. Development of which began in Kazakh sector of the Caspian Sea in fall of 2016 in Atyrau region, Kazinform correspondent reports.

According to the Managing Director at NCOC N.V Bruno Jardin, to the day $55 billion have been invested in the North-Caspian project.

There were a lot of speculations earlier about wo much money have been invested in development of Kashagan oil field, start of production of which has been postponed several times.

"Life cycle of the first Stage of Kashagan development is decades. Therefore it should be considered it in the long term, rather than in the context of a brief period of current economic situation. We cannot speculate on oil prices in the future. Especially as our task is to operate fields, and produce oil. I think calculations based on the dynamics of prices are made by companies which have a stake in the oilfield", Jardin said when asked how many years it will take for the project to recoup in case oil price remains at $50 per barrel.