Production at Kazakhstan's oil & gas field reaches record level
Baku, Azerbaijan, Feb. 19
By Rashid Shirinov – Trend:
Oil and gas consortium Karachaganak Petroleum Operating B. V. (KPO) managed to reach record production levels at the Karachaganak field of Kazakhstan in 2018, Trend reports citing the company's production report for the past year.
Production amounted to 148 million barrels of oil equivalent of stabilized and unstabilized liquid hydrocarbons, raw and fuel gas.
At the same time, 8.6 billion cubic meters of gas, which is approximately 45.4 percent of the total gas produced, were reinjected to maintain reservoir pressure.
As of today, the Karachaganak shareholders have invested $24 billion in the development of the field, while direct payments to the budget of Kazakhstan have reached $17 billion.
The report notes that in KPO, the principles of sustainable development and highest environmental standards are imbedded in all business processes. The consortium has been particularly successful in such areas as reduction of air emissions, waste management and the implementation of "green" technologies.
Since 1998, KPO has invested $380 million into environmental protection. Last year’s gas utilization rate at Karachaganak was 99.94 percent, which is a world-class achievement.
It should be noted that Karachaganak is one of the largest oil and gas condensate fields in Kazakhstan. Karachaganak Petroleum Operating produces oil and gas from the Karachaganak field. The shares in the consortium are distributed as follows: Eni - 29.25 percent, Royal Dutch Shell - 29.25 percent, Chevron - 18 percent, Lukoil - 13.5 percent and KazMunayGas - 10 percent.
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