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Kabyldin told about plans for Karachaganak development by the end of 2011

04 октября 2011, 17:44
Hydrocarbons processing complex at Karachaganak oil and gas field. ©REUTERS
Hydrocarbons processing complex at Karachaganak oil and gas field. ©REUTERS
Chairman of KazMunaiGas National Oil Company Kairkeldy Kabyldin told about plans for Karachaganak field development at the press-conference of the 6th Eurasian Forum KAZENERGY on October 4, Tengrinews.kz reports.

“How much will be spent on the 2nd stage? I don’t know,” Kabyldin said. "Because the decision has not been made yet, and as the Minister said today, this issue will be discussed. Of course, everyone understands that having the project implemented with the 2nd stage will be more efficient than leaving it on the 1st stage.”

Representative of British oil and gas company BG Group also talked about good results of negotiations. “We are holding very good negotiations with Kazakhstan government and we expect that they will come to conclusion by the end of this year. Meanwhile, we are starting to plan further development of the field,” Executive Vice President and Managing Director, Europe and Central Asia Region Chris Finlayson said.

Kabyldin said that KazMunaiGas, that works in the field on an equality basis with other companies, is interested in efficiency of the project. “Of course, we are currently a major investor in this project along with the other international companies and we are interested in its high efficiency.” But according to chairman of KMG, efficiency can be reached only by increasing oil production.

As for development of Kashagan, the plan is to reach the 3rd stage and increase oil production. “Today partners of the joint venture are discussing a concept of the 3rd stage. We are reviewing the base option plus 12 million to the current production rate. We are expecting to complete our concept project of the 3rd stage of development early next year and submit it to the reserves commission that will approve the technology suggested. Next year, I think, we will make the final decision,” chairman of KazMunaiGas said. The project cost will become clear after the final approval of one or another technology, he said.

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