BAKU, Azerbaijan, March 10. Karachaganak Petroleum Operating (KPO), an operator of Kazakhstan's Karachaganak gas and condensate field, has developed production increase plan for coming years, which was presented to President Kassym-Jomart Tokayev, Trend reports via the press service of the President.
As a result of the field expansion project, the production will increase up to 46 million tons, therefore, enabling Kazakhstan and partners to receive additional revenue.
Currently, as part of the first stage of the project scheduled for 2021-2024, work is underway on the construction of the 5th gas re-injection compressor and other production facilities. At this stage, some $970 million will be invested and about 3,500 people will be employed at the field.
At the next stage, from 2023 through 2026, the construction of the 6th gas recirculation compressor is scheduled. Some $735 million will be allocated for these purposes, which will also result in the creation of 1,300 new job places.
To date, the consortium partners, together with the Ministry of Energy, are developing a feasibility study for a new gas plant. The launch of the plant will increase production to 4 billion cubic meters of gas and 0.5-0.6 million tons of propane-butane fraction per year.
The Karachaganak Venture brings expertise and knowledge from five oil & gas companies — ENI SpA (29.25 percent), Shell plc (29.25 percent), Chevron (18 percent), Lukoil (13.5 percent) and KazMunaiGas (10 percent). Together they share their experience and expertise with the Republic in looking at both domestic and export options for maximizing the value of these resources.