ASTANA, Kazakhstan, February 29. KazMunayGas JSC (KMG, Kazakhstan's national oil and gas company) plans to drill three exploration wells in 2024, as stated in a statement of the Chairman of the Board of KMG Magzum Mirzagaliyev, published by the press service of the joint-stock company, Trend reports.
"KMG plans to drill three exploration wells this year. We plan to drill one well in the Kyzylorda region at the Turgay Paleozoy site, equipment is already being mobilized. We plan to begin this work in the middle of this year. I won’t make any predictions, but we have certain hopes. Also in 2024, we plan deep pre-salt drilling at the Karaton Podsolevoy structure, located in the Atyrau and Mangystau regions. Additionally, drilling of a well is planned for this year together with Eni in the Abay area in the Caspian Sea," he said.
In addition to this, Mirzagaliyev pointed out that last year KMG created a joint venture with LUKOIL on the "Kalamkas-Sea, Khazar, Auezov" project in the Caspian Sea.
"Active work has already begun, an operating company has been formed with a location in the city of Aktau. There are plans to reach first oil production in 2028-2029. For us, this is a large and significant project that will not only allow us to production oil, but also create new jobs in the Mangystau region, which is extremely important," he noted.
Meanwhile, the volume of oil and gas condensate production by KazMunayGas amounted to 23.5 million tons (486,000 barrels per day) in 2023. The volume of oil and gas condensate production grew by 6.5 percent from 2022.
At the same time, natural and related gas output climbed by 14.8 percent over the reporting period, reaching 9.45 billion cubic meters.