BAKU, Azerbaijan, Dec.7
By Nargiz Sadikhova – Trend:
Annual oil production in Kazakhstan is projected to exceed 100 million tons starting from 2023 due to the project of the future expansion of Tengiz field and expansion of capacities for gas re-injection at the Kashagan field, Kazakhstan’s Vice Minister of Energy Asset Magauov said, Trend reports with reference to the press office of Kazakh prime minister.
According to Magauov, preliminary oil production amounted to 82.5 million tons in 11 months of 2019.
“The country's oil production plan for 2019 is 89 million tons. Until the end of 2019, it is expected that the oil production will slightly exceed 90.5 million tons,” vice minister said.
He reminded that about 60 percent of oil production comes from three major Kazakh oil fields: Tengiz, Karachaganak and Kashagan.
“In 2019, all three projects underwent corresponding overhauls. In general, production is stable,” Magauov said.
Thus, the production at the Kashagan field following the overhaul reached over 370,000 barrels per day.
A natural decline in oil production is observed at other fields. The main decline is forecasted in the fields of the Kyzylorda region in connection with the late stage of development of the main fields.
“In general, we will keep the production bar at the level of 90 million tons per year for the next two-three years,” Magauov said.
The vice minister of energy added that important investment projects are in the active phase of construction: wellhead pressure management, expansion of Karachaganak and further development of the eastern part of the Kashagan field.
“The total cost of the project for future expansion/wellhead management is estimated at $36.8 billion. Progress on the overall implementation plan is already about 72 percent. About $28.5 billion was used. The project is to be finished on schedule,” Magauov said.
In addition, implementation of a large project to maintain the current production target of 11.5 million tons is planned at the Kashagan field. Total investments are estimated at around $3 billion.
To further expand the Kashagan field, the concept for the full-scale development of the eastern part of the field is being developed. The first concept for the development of this part of the field is to be presented to the Ministry of Energy in 2020.
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