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Extraction volume at Kazakhstan's three major oil, gas fields revealed

Oil&Gas Materials 10 January 2020 19:00 (UTC +04:00)
Extraction volume at Kazakhstan's three major oil, gas fields revealed

BAKU, Azerbaijan, Jan. 10

By Nargiz Sadikhova - Trend:

Volume of oil and gas condensate extraction in Kazakhstan amounted to 90.5 million tons in 2019 according to preliminary data, Trend reports with reference to Kazakh media.

Tengizchevroil company, which is developing Tengiz oil field, extracted 29.7 million tons of hydrocarbons. Karachaganak Petroleum Operating company, which is developing country’s Karachaganak field, extracted 11.27 million tons, and North Caspian Operating Company developing country’s Kashagan field extracted 14.1 million tons of hydrocarbons.

Kashagan Phase one with an estimated investment of $55 billion represents the biggest international investment in Kazakhstan till date. Developed in harsh offshore environment, it is also considered to be one of the world’s most technically challenging oil and gas project completed so far.

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 as follows: Eni - 29.25 percent, Royal Dutch Shell - 29.25 percent, Chevron - 18 percent, Lukoil - 13.5 percent and KazMunayGas - 10 percent.

Kazakhstan’s Tengiz oil field ranks as the world’s deepest producing giant oil field and the largest single-trap producing reservoir in existence. Nearby is another world-class reservoir called the Korolev Field. Chevron company holds a 50-percent interest in Tengizchevroil, which operates the two fields.

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Follow the author on twitter: @nargiz_sadikh

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