Baku, Azerbaijan, Feb. 9
By Elena Kosolapova – Trend:
Karachaganak Petroleum Operating B.V. (KPO), which operates Karachaganak oil and gas condensate field in Kazakhstan decreased oil production in 2016, the company said in a report released Feb. 9.
The company’s stable and unstable liquids, raw gas and fuel gas production hit 139.7 million barrels of oil equivalent in 2016 compared to 141.7 million barrels of oil equivalent in 2015.
As much as 8.04 billion cubic meters of dry gas or 46 percent of the total gas output was re-injected back into reservoir to maintain pressure.
KPO partners have invested nearly $22 billion into development of Karachaganak so far, the company said. KPO uses the latest technologies, which enable achieving higher levels of hydrocarbon production.
Karachaganak is one of the most geologically complicated fields in Kazakhstan. Currently, 119 production and 17 injection wells are operated in the Karachaganak field, with a total well stock amounting to 412 wells, the company said.
In May 2016 KPO completed a major shutdown which allowed increasing the total annual production of stabilized hydrocarbons.
KPO company noted that it aims at the sustainable development while adhering to the highest standards of environmental protection. In 2016 KPO has achieved a world-class gas utilization rate of 99.84 per cent. The volume of gas flaring totaled 0.16 percent of the total gas output or 0.97 tons per thousand ton of hydrocarbons. Greenhouse gas emissions reduced by 298,000 tons of CO2 due to reduction of oil and gas flaring during well operations in 2016.
Karachaganak field, located in the West Kazakhstan Province, is one of the largest oil and gas condensate fields in the world. Its reserve is estimated at over 1.2 billion tons of liquid hydrocarbons and 1.3 trillion cubic meters of gas.
The field gives almost 45 percent of the total gas and 16 percent of the total liquid hydrocarbons produced in Kazakhstan.
Karachaganak is being developed within the production sharing agreement (PSA) reached between Kazakhstan and a consortium that includes Royal Dutch Shell (29.25 percent), Eni (29.25 percent), Сhevron (18 percent), Lukoil (13.5 percent) and KazMunaiGas (10 percent).