KazMunayTeniz increases resource base

Oil&Gas Materials 21 June 2011 18:42 (UTC +04:00)

Kazakhstan, Astana, June 21 / Trend, A. Maratov /

KazMunayTeniz intends to increase its resource base, while conducting successful oil exploration operations in the Kazakh sector of the Caspian shelf, General Director Kenzhebek Ibrashev told Trend.

"Oil exploration and evaluation operations are conducted on areas "Zhambai","Kurmangazy", "Tub-Karagan" and "Pearls", which are at various stages of development," Ibrashev said.

In addition, he said, in the Kazakh sector of the Caspian Sea it is currently planned to conduct oil operations in a number of promising areas, which are characterized by a high projected hydrocarbon raw materials - they are "Zhambyl", "N" block (Nursultan), "Satpayev " with total resources of 3.7 billion tons.

Ibrashev said KazMunayTeniz pays special attention to replenishing of the resource base, growth of proved reserves and fill the reserves in the future.

"So we are very interested in participating not only in projects where we are subsurface user, but also in the projects of development of discovered fields, as well as in prospecting and exploration of new fields in the Caspian Sea," Ibrashev said.

He said it is supposed that KazMunayTeniz will have at least nine projects with common projected geological reserves of about 3.8 billion tons by 2020 to his credit.

Besides, he added, KazMunayTeniz will seek to fill the resource base by increasing the volume of proved reserves and reserves involved in the development.