The Ministry of Energy of the Republic of Kazakhstan has summed up the work results in the sphere of oil and gas production, refining and transportation.
In 2016 the volume of oil production in Kazakhstan amounted to 78 mln tons, exceeding the planned indicators by 2.5 mln tons. The downtrend of oil production is continued: 79.46 mln tons of oil produced in 2015, which, in turn, accounted to 98.3% of the previous year indicators.
The Association of oil service companies of Kazakhstan made the analysis of procurement of the oil companies, based on the year of 2016, with a view to identify the oil service segments with greatest growth/decline, as well as to identify the share of Kazakh companies in each segment.
How upening convention led to a game-changing drilling innovation.
In 2009, ExxonMobile engineers drilling into deep offshore oil deposites in the Gulf of Mexico unexpectedly encountered a particularly hard and abrasive rock formations. Instead of taking the drill bit half a day to drill though this formation, it ultimately took four runs, or trips in and out of the hole, and three weeks.
JSC NC KazMunayGas and the Chinese company China Energy Company Limited (CEFC) signed an agreement in Bucharest, confirming their intention to implement the deal on the partial sale of the KMG International (KMGI) shares.
The economics of Kashagan oil and gas project development and its impact on the economy of Kazakhstan sparked a lot of interest recently. Unfortunately, the terms of the production sharing agreement (PSA) of this project are confidential, the exact sum of investments and other details of the execution of the project is unknown as well.
Karachaganak Petroleum Operating B.V. (KPO) has announced the performance results for the year of 2016.
In 2016 KPO produced 139.7 million barrels of oil equivalent in the form of stable and unstable liquids, sour gas for export, and sweet gas for use as fuel. In addition, 8.04 billion cubic metres of sour dry gas were re-injected, a volume equivalent to approximately 46 per cent of the total gas produced
Petroleum Magazine and Ratel analytical internet website on the eve of the 25 anniversary of Independence produced a special series of publications under the general heading Black Gold of Independence. We offer our readers remember how and in what circumstances arose and found feet of the oil and gas industry of independent Kazakhstan. Full cycle can be read on the website www.ratel.kz
The article presents rationale of the possibility to increase the basic parameter of parameter field development – the factor of oil recovery from reservoirs designed and exhausted (suspended) deposits with use of new developments and advances in technology.
It is appropriate in this period, as the developed fields run out of normal "light" crude oil at the backdrop of declining reserves replacement level due to new discoveries of medium and light crude oils.