Kazakhstan, Astana, June 12 / Trend K. Konyrova /
The Kazakh ministry of energy and natural resources, KazMunayGaz JSC, ConoccoPhillips and Arabic Mubadala Development Company signed the contract on development of Nursultan prospective block.
Nursultan block is situated 30 kilometers in the south of south-west coast of Aktau in the Caspian Sea. Geologic reserves of structure are estimated in the amount of 360 million tons of oil but extracted reserves - 270 million tons. The first exploitation well is planned to drill in 2010. Commercial output is planned to launch in 2016.
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