MILAN, Aug 20 (Class Editori) -- A double gain on the podium, with Kashagan and Karachaganak: on the top step, Tengiz, which sees Chevron and ExxonMobil as main partners. The ranking, updated on last July, comes directly from the Ministry of Energy, which has drawn conclusions the first seven months of the year, recording an overall production volume of 52.23 million tons, far beyond the estimates of the energy plan state. Minister Kanat Bozumbayev informed President Kassym-Zhomart Tokayev directly of the results.
"The three oilfields totaled a production of 31.6 million tons, of which, 7.2 million in Kashagan, 17.5 million in Tengiz and about 6.9 million in Karachaganak," said the minister. At the same time, investments have grown. According to estimates by the Ministry of Energy, the three oilfields have committed resources of 44.5 billion dollars. The future expansion of Tengiz requires about 38 billion dollars, while 4.5 billion dollars are expected to increase the level of production in Karachaganak.
The announcement goes hand in hand with that of Ncoc (North Caspian Operating Company, of which Eni owns 16.8%), which released data on production from the entry into operation of the offshore field to date: 30 million tons of crude oil and over 8.44 billion cubic meters of gas, exceeding the targets over the quarters. Now the field is producing at the maximum capacity allowed by this phase of development, with a rate of 380,000 barrels per day.
It's time to take stock also for Karchaganak, with the Kpo consortium (of which Eni is co-operator with 29.25%), which presented the results of the first six months of the year. Since the beginning of 2019 the oilfield has produced over 73 million barrels of equivalent oil. Kpo's director general Edwin Blom has lined up what he considers the most significant progress made in this first semester, which also coincides with the 40 years since the discovery of Karachaganak.
"Since the definitive product sharing agreement was signed, as much as 25 billion dollars have been invested in the development of the oilfield," Blom recalled. In May, the project was implemented with the agreement for the new gas re-injection phase "a monumental milestone, the project represents the opportunity to further increase production, and generate cash to carry out subsequent investments." The six-month budget also points out that since 1998, Kpo has invested 389 million dollars in environmental protection activities and another 375 million dollars for infrastructure serving the Kazakh communities. Furthermore, in this first half of the year, the consortium saw its share of supplies and services increased to 56% from local companies for a value of 255 million dollars. (All rights reserved)
(Source: Class Editori)
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.
A single purchase
