NCOC to start developing new fields in Caspian Sea
Baku, Azerbaijan, April 12
By Fakhri Vakilov – Trend:
North Caspian Operating Company (NCOC) will start the development of Kalamkas-Sea and Khazar fields in the Caspian Sea, Trend reports via Kazakh media.
The Kalamkas-Sea field, located in the Kazakhstan sector of the Caspian Sea, was discovered in 2002. It is 120 kilometers southwest of Kashagan and very close to the Khazar field. The total recoverable reserves of the Kalamkas-Sea and Khazara fields are 70 million tons of oil.
By 2030 it is planned to drill 35 wells.
The prospect of the Kalamkas-Sea was identified in the 1990s based on the results of seismic exploration.
The North Caspian Project (NCOC) is the first major project to develop offshore oil and gas fields in Kazakhstan. It consists of five fields: Kashagan, Kalamkas-Sea, Kairan, Aktoty and South-West Kashagan.
The giant Kashagan field is one of the largest oil fields discovered in the last four decades.
Its recoverable reserves are approximately 9–13 billion barrels (1-2 billion tons) of oil.
In 2016, commercial oil production began at the Kashagan offshore field for the first time in the history of Kazakhstan.
The first million tons was exported in the first days of 2017, and NCOC safely reached actual production levels of over 200,000 barrels per day in mid-2017.Given its scale and technical complexity, the North Caspian project will be developed in phases. The estimated cost of Kashagan Phase 1, which began commercial production in 2016, is about $55 billion.
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