The CPC is implementing a project to expand the pipe’s capacities to 67 million tons a year. The project is to be completed by 2014.
With its 1.2 billion tons of oil and condensed gas and 1.35 trillion cubic meters of gas, Karachaganak is one of the largest O&G fields in the world.
Outgoing Kairgeldy Kabyldin, according to a source close to the situation, is expected to head KazTransOil.
Chairman of KazMunaiGas National Oil Company told about plans for Karachaganak field development at the press-conference of the 6th Eurasian Forum KAZENERGY.
According to him, timely expansion of the capacities could neutralize price fluctuations and fuel shortages in the domestic market.
At the same time, according to him, “foreign investments into the processing sector are growing”.
In case oil stands at 60%, the growth rate figure will make up 5-6%: Economic Development Minister Kairat Kelimbetov.
Agency for Protection of Competition fined Sinooil over 3 million tenge.
The new export duty rate comes into effect September 27.
The field was discovered in 2000 and was one of the larger discoveries in that decade, it is estimated that the Kashagan Field has commercial reserves from 10 billion barrels.
Oil pipeline TON-2 (Taimys-Omsk-Novosibirsk) has been successfully repaired in North-Kazakhstan oblast.
Information about a Kazakh oilworker missing after Tropical Storm Nate in the Mexican Gulf was not confirmed.
Earlier Tengrinews.kz reported that Kazakhstan plans to boost oil production to 102 million tons by 2016.
A pipeline rupture caused a 200 cub.m oil spill in the area of 1,000 sq.m.
Petrol production made 1.7 million tons in January-August 2011 in Kazakhstan.
Exploration well reached 1,406 meters, where 27 meters of oil and gas deposits were discovered.
According to the stats, crude and condensed gas production output for the first 7 months totaled 46.6 million tons.
With its 1.2 billion tons of oil and condensed gas and 1.35 trillion cubic meters of gas, Karachaganak is one of the largest O&G fields in the world. Karachagank accounts for 49% of all the gas production and 18% of oil production in Kazakhstan.
According to Kazakhstan’s Vice Foreign Minister Zhumabayev, Kazakhstan is interested in transporting its oil across Ukraine to third countries as well as in using Ukrainian sea ports.
Assets of the National Fund as of the end of July totaled $38.72 billion.
- Caspian Sea
- Samruk Kazyna
- National Fund