Kazakh Karachaganak Petroleum Operating announces operation results as of 2012
Azerbaijan, Baku, Feb. 25 / Trend E. Kosolapova/
Kazakh Karachaganak Petroleum Operating B.V. (KPO) produced 139.5 million barrels of oil equivalent of stabilized and unstabilized liquid hydrocarbons, gas and fuel gas in 2012, the company reported.
Some 8.6 million cubic meters of sour dry gas were re-injected to maintain reservoir pressure in the reporting period, which is approximately 49 percent of the total volume of produced gas.
"As of today, KPO's partners have invested more than $17 billion into the development of Karachaganak. At the same time, direct payments into the Kazakhstan's budget reached $8.8 billion," KPO General Director, Damiano Ratti, said.
In 2012, the volume of gas flaring was a mere 0.13 percent of the total volume of gas produced, or 0.78 tons per 1,000 tons of extracted raw materials.
"A comparison of these figures with averages achieved by international and European oil and gas companies demonstrates KPO's leadership in this area," the company said.
Karachaganak is one of the largest and most complex fields to operate in Kazakhstan. Currently, there are 96 production and 16 re-injection wells in operation at the Karachaganak field, out of a total of 377 wells.
According to KPO, some of the best liquid producing wells ever undertaken has been drilled and completed in 2012. Moreover, KPO hooked up the highest absolute number of wells in the history of the Karachaganak in any one year.
Karachaganak field is one of the world's largest fields. Its oil reserves amount to 1.2 billion tons, natural gas - 1.35 trillion cubic meters. About 49 percent of Kazakhstan's gas production and 18 percent of oil production are extracted on this field. BG Group has 29.25 percent in the project, Eni - 29.25 percent, Chevron -18 percent, Lukoil -13.5 percent and Kazakhstan -10 percent.