Kazakhstan's Karachaganak expansion project development underway
Baku, Azerbaijan, September 4
By Nargiz Sadikhova - Trend:
The Karachaganak Expansion Project is currently at the stage of Front-End Engineering Design (FEED), Kazakhstan’s National Company KazMunaiGas told Trend.
According to the company, the FEED is to be finished by the end of 2019.
Karachaganak Expansion Project is a part of staged approach to the field’s development up to the end of the Final Production Sharing Agreement period (2037).
Karachaganak was opened in 1979. It is one of the largest gas-condensate fields in the world and is located in the northwest of Kazakhstan, near the Aksai town. Industrial production started in 1984. At present, the concept of the project to expand Karachaganak is being developed for a significant increase in production.
The Karachaganak Venture brings expertise and knowledge from five international oil and gas companies such as Eni SpA, Royal Dutch Shell plc, Chevron, Lukoil and KazMunaiGas.
Eni, together with Shell, are joint operators and each hold a 29.25 percent interest in the venture. Chevron and Lukoil hold respective interests of 18 percent and 13.5 percent. National company KazMunaiGas, which entered the Joint Venture from July 1, 2012, holds a 10 percent interest.
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