ASTANA, Kazakhstan, May 14. Kazakhstan's KazMunayGas (national oil and gas company) has invested 68 billion tenge (about $154 million) in the project for the rehabilitation of the Uzen and Karamandybas fields in 2023-2024, said the Chairman of the KMG Board Magzum Mirzagaliyev, Trend reports.
"In 2023, 17 billion tenge (about $38.5 million) were invested in the rehabilitation project, and 51 billion tenge (about $115.5 million) this year. In 2024, it is necessary to complete all planned activities for the project," he said during a meeting on the rehabilitation project.
The rehabilitation project for the Uzen and Karamnadybas fields was launched in 2023 by a KMG subsidiary, Ozenmunaigas (OMG).
Thus, as part of the rehabilitation, an additional 23 wells were put into operation in February 2024. Previously, work was also carried out to install new modern equipment. In total, new modern equipment is used in more than 100 wells of the project.
In addition, this year it is also planned to drill 31 new wells, as well as work to install new modern equipment. Full completion of the project is scheduled for 2025.
Meanwhile, it is expected that measures to rehabilitate the fields will help increase Ozenmunaigas’ oil production gradually over several years to 5.2–5.5 million tons per year. As part of the rehabilitation project, in 2024, the additional volume of OMG oil production will be 136,000 tons of oil. The ultimate goal is to produce an additional 19 million tons from 2023 to 2036.
Furthermore, Kazakhstan produced 90 million tons of oil in 2023, which is 6.9 percent higher than in 2022. Oil exports also increased and amounted to 70.5 million tons, which is 9.6 percent more than the previous year.
Moreover, Kazakhstan plans to increase oil production in 2024 to 90.3 million tons.