Probable reserves of oil in Kazakhstan exceed 17 billion tons

Probable reserves of "black gold" in the Kazakh sector of the Caspian Sea exceed 17 billion tons (124.3 billion barrels), the head of Kazakhstan's national oil and gas company "KazMunaiGas" Lazzat Kiinov.

While proven reserves of hydrocarbons in the country, both onshore and offshore, is estimated to be five billion tonnes, or more than 35 billion barrels of gas - three trillion cubic meters.

Today, over 90 percent of Kazakhstan's oil reserves are concentrated in 15 major fields: Tengiz, Kashagan, Karachaganak, Uzen, Royal, Zhetybai, Zhanazhol Kalamkas Kenkiyak, Karazhanbas Kumkol North Buzachi, Alibekmola, Central and Eastern Prorva and Kenbai.

Oil and gas regions of Kazakhstan (6 out of 14 regions) with their 180 oil and 50 gas fields cover about 62 percent of the country.

"This concentration of geological resources reduces their development, however, geology of deposits, such as the nature of the occurrence, the high content of impurities aggressive chemicals, require careful study projects of their operation and substantial initial investment," - said Kiinov.


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Approximately 70 percent of the hydrocarbon reserves discovered in the West: in Atyrau region, opened more than 80 oil and gas "fields." Less than half of the 70 fields of Mangistau region are in operation, and most - in the later stages of development (the largest of them - Uzen Zhetybai, Kalamkas and Karazhanbas).

In Aktobe region - about 25 fields, and the most significant include Zhanazhol group. Seven years ago, "CNPC-Aktobe" announced the discovery of a new deposit "Umit" on the center unit eastern part of the Caspian basin.

The basis of the oil sector in Kyzylorda and Karaganda regions - Kumkol group. More than 15 fields are located in Western Kazakhstan, and among them stands out Karachaganak oil: it is "hidden" 1.2 billion tons of oil and condensate and over 1.35 trillion cubic meters of gas. It is one of the largest in the world and the largest gas producers in Kazakhstan and provides about 49 percent of the total production of the volatile fraction and about 18 percent of the total production of liquid hydrocarbons in the country.

Last year was marked by the fact that the operator, the Karachaganak consortium agreed to give in favor of Kazakhstan-five percent stake in the dispute settlement expense for the period to 31 December 2009, and sold at market price (a billion dollars without taxes) five percent jump Thus, the participation of Kazakhstan in the person of JSC "NC" KazMunaiGas "in the project to 10%.

Half of Kazakhstan's reserves of "black gold" lies in a truly giant fields - Kashagan and Tengiz.

Geological reserves of the Kashagan field, according to geologists, EP, is estimated at 4.8 billion tons, and, according to the operator of the project, the total oil reserves of 38 billion barrels, or six billion tons, of which recoverable - about 10 billion barrels. There are also fairly large reserves of natural gas - more than one trillion cubic meters.

Timing the start of production at Kashagan postponed several times, the original consortium of foreign companies led by Eni (Italy) promised to provide commercial production in 2008. In the course of "coordination" and "transfers" Kazakhstan has increased its stake in the project from eight to 16.8 percent and made royalty payments, which was absent in the original agreement.

Another truly gigantic field in Kazakhstan - Tengiz - was opened in 1979 and is one of the deepest and largest in the world. Recoverable oil at its collector to April 2033 is from 750 million to 1.1 billion tons. General proven reserves in Tengiz field exceeds three billion tons (26 billion barrels), and about 190 million tons (1.5 billion barrels) - in the Royal Field (one sixth of the Tengiz reserves).

Operator - Company "TCO" - was created in April 1993 through an agreement between the Republic of Kazakhstan and the company "Chevron". Partners are Chevron - 50 percent, NC "KazMunaiGas" - 20 percent, ExxonMobil - 25 percent and LukArco - five percent.

"TCO" plans this year to begin pre-survey for the expansion project, which is expected to allow the company to increase daily oil production at Tengiz to 250-300 barrels per day. According to the American company Chevron Corp, the project cost is estimated at six to eight billion dollars. As confirmed in the EP, the partners of the future expansion of the project is being actively discussed. If approved and success is expected that the annual production volume TCO increase from 25 to 36 million tons.

World media monitoring