Azerbaijan, Baku, Oct. 3 / Trend E. Kosolapova/
Kazakh national oil and gas company KazMunaiGas (KMG), plans to increase the volume of oil and gas condensate proven reserves from the current 823 million tons to 1.4 million tons by 2022, the company's deputy head Kurmangazi Iskaziev said, Novosti-Kazakhstan reported.
"Today, our proven reserves reached 823 million tons of oil and condensate and we plan to bring them to 1.4 billion tons by 2022 through efficient sea and land exploration," Iskaziev said.
According to the KazMunaiGas deputy head, the increase in reserves will be achieved through exploration at deeper reservoirs. The company plans to drill exploration wells to a depth of five to eight kilometres, he said.
In particular, the company plans to drill exploration wells at the Uzen and Karamandybas fields to 5.5 kilometres.
"We expect that the Triassic and possibly Paleozoic reservoirs can show large amount of hydrocarbons," Iskaziev said.