Baku, Azerbaijan, August 23
By Nargiz Sadikhova – Trend:
The plan for the development of Kalamkas-Sea oil field in Kazakhstan’s sector of the Caspian Sea will be submitted to the authorized Kazakh body for the approval in 4Q2019, North Caspian Operating Company (NCOC) told Trend.
According to the source in the company, NCOC is continuing work on development of the field and has currently finished the main research to select the development concept.
“Furthermore, the preparatory engineering work on the prioritized development concept is underway in order to specify the parameters of the project. The development plan is to be submitted for the approval in 4Q2019,” the source in the company said.
The joint development of Kalamkas-Sea and Khazar oil fields still is the prioritized development concept for the company.
“Joint development provides for development of small, less profitable reserves, which is natural for oil-rich provinces, such as North Sea and Gulf of Mexico,” the source noted.
According to the source in the company, the project of the joint work of the Kalamkas-Sea and Khazar fields is the first case of developing two fields of different contract territories on the Kazakhstan’s sector of the Caspian Sea.
“Kalamkas-Sea is a part of production sharing agreement of NCOC project, whereas Khazar is a part of production sharing agreement of Zhemchuzhina project. We prefer the variant of simultaneous development of the fields in order to provide synergy. In this case, the oil fields will become more attractive in terms of regional hub, which could result in future connection of other fields in the region to the development work,” the source in the company said.
Previously, it was reported that the development of the Kalamkas-Sea will be implemented by drilling of 30 wells, the number of which has been selected following a necessary research and consideration of development variants.
“If the government of Kazakhstan and consortium partners approve the submitted plan for joint development, the expected number of the drilled wells on the field will exceed 30 wells,” the source noted.
Currently, the issues of the project’s implementation cost and timeframe are being negotiated by Kazakhstan’s government and the partners of the project, the source said.
In conclusion, the source in the company noted that NCOC and its investors appreciate the consistent support provided by Kazakh government, which will play the crucial role in development of the project.
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