Projects
The Perspective is Not Yet in Sight
#1 (91), February 2015
At the end of last year, the Kazakhstan’s Ministry of Energy signed an agreement with the NCOC and companies engaged in the North Caspian Sea PSA, which settles a number of industrial, financial and environmental issues that had accumulated over the past few years. Neither party does not disclose details of the agreement referring to its confidentiality, but it is clear that the parties are actively searching for compromise in order to begin commercial production at the offshore Kashagan field as soon as possible, where Kazakhstan pins its hopes on increase oil production in coming years.
KPO Reports 2014 Performance
#1 (91), February 2015
In 2014, KPO reached a record level of 142.5 million barrels of oil equivalent in production of stabilised and unstabilised liquid hydrocarbons, gas and fuel gas. In addition, 8,817.8 million cubic meters of sour dry gas were injected into the reservoir, a volume equivalent to approximately 48.3% of the total gas produced.
TCO Disclosed FGP Details
#6 (90), December 2014
Public Hearing on environmental impact assessment (EIA) of the third generation plant planned by Tengizchevroil within Future Growth Project (FGP) was carried out in Atyrau. With the launch of FGP TCO intends to increase the total volume of oil production up to 38 million tons per year.
Reforming Deeply. The Global Reform in Geological Sector is Being Planned in Kazakhstan
#5 (89), November 2014
In recent years, the geology of Kazakhstan has clearly demonstrated a systemic crisis: growth of hydrocarbons production and minerals exceeded the replacement of resources. “Once powerful state geological service turned into a bureaucratic machine, lacking the production or research organizations in its structure,”- shares Asset Issekeshev, Minister of Investment and Development of the RoK,- “Most of the private geological exploration companies (...) proved themselves as non-competitive in the real-life conditions.Some of these companies were historically supported by the Committee of Geology due to the government orders.
Maersk Oil Launches New Oil Gathering Facility
#5 (89), November 2014
Maersk Oil has commissioned the first of 15 trunk lines of the new oil gathering system at the Dunga field in Mangystau Oblast, operated by Maersk Oil and in partnership with with Partex Corporation and Oman Oil Company Limited.
Specific Features of Implementing Unratified International Agreements in Oil and Gas Industry at the Example of Imashev Field
#5 (89), November 2014
On September 7, 2010, the Agreement on collaboration on geological study and exploration of transboundary Imashev gas-condensate field (hereinafter - Agreement) was signed between the Government of the Republic of Kazakhstan and Russian Federation.
Maersk Oil has reached 100 wellmilestone at the Dunga Field
#3 (87), May 2014
Maersk Oil has drilled 100 out of the 198 wells planned within the Dunga Phase II Development Project. Once completed and started up, each 1,700 m deep well is expected to produce between 25 to 50 tonnes of oil per day.
Kashagan Expects for Verdict
#1 (85), February 2014
Production of oil at the Kashagan field stopped just after beginning, though Kazakhstan relied on this production for joining the top ten largest oil producing countries in the world, as early as by 2015. The Government and the shareholders of the North Caspian project are waiting for the verdict: what to do with the pipeline, extending from the wells at the artificial islands to the onshore processing complex. Even in case of the most negative scenario, the pipeline may have to be re-installed.
Moldovan Investors' Adventures in Kazakhstan
#1 (85), February 2014
In the first days of January, Tristan Oil Company issued an official statement about winning the arbitration proceedings on the claim to the Government of Kazakhstan in the amount of $506 million. According to Tristan Oil, the cause of the action was Kazakhstan’s capture of investments of Tristan Oil in Kazpolmunai LLP and Tolkynneftegaz LLP, acting as guarantors of issue of the covered bonds of Tristan Oil maturing in 2016.
KPO Reports 2013 Performance
#1 (85), February 2014
Commenting on 2013 performance results, Damiano Ratti, KPO General Director, said: “I am pleased to announce that KPO has sustained our ‘World Class’ safety performance in 2013 by reducing our lost time incident (LTI) rates as compared to 2012. This performance is benchmarked against other Oil & Gas companies within the Oil & Gas Producer’s (OGP) Association and this achievement signifies KPO personnel’s commitment to safety, health, and environmental practices and standards.
Great Opportunities for Local Contractors
#5 (83), October 2013 special issue
Kashagan. A huge hydrocarbon field in Kazakh part of the Caspian Sea. The unique project implemented by the international North Caspian Sea Consortium. On 11 September 2013 NCOC announced on behalf of the Consortium about the opening of the first well and production of the first barrels of oil.
The Second Tengiz. Offshore
#5 (83), October 2013 special issue
Kazakhstan hopes to discover a new large oil and condensate field, which size is comparable to Tengiz field. However, not in the onshore, but offshore. As expected, the works in Makhambet site, located in the offshore of the Caspian Sea, performed by the Kazakhstan-Chinese company “Atyraumunaygaz”, will turn to be successful by 2014.
Kashagan and Karachaganak: Chinese scenarios
#4 (82), September 2013 special issue
Finally, Kazakhstan used its priority rights to purchase an 8.4% share in Kashagan field, previously owned by ConocoPhillips. Its share in the world's largest oil and gas project, the US Company will sell to JSC NC KazMunayGaz(KMG) for $ 5 billion. The deal will be completed in the fourth quarter of 2013.
Will there be a New Tengiz in Kazakhstan?
#3 (81), June 2013
Both Kazakhstani and Russian geologists for the first time publicly declared their non-agreement with the recent modern slogan that the future of oil production of Kazakhstan is connected only with the Caspian shelf. They reckon on discovery of several more Tengiz Shelves onshore.
Kashagan: Bellum Omnium Contra Omnes
#3 (81), June 2013
The situation around the sale of the share of the American ConocoPhillips in the North-Caspian project (8.4%) is entangled more and more. As it was earlier declared that Kazakhstan will decide the fate of the share on 25 May 2013, the Minister of Oil and Gas of the Republic Mynbayev announced on May 22 that the date is being moved to the beginning of July. "The decision [of the State Commission - Petroleum] is from July 2," – Mynbayev told Reuters, without giving reasons for the delay.
Petrolinvest Unites Efforts with Total and CNPC
#2 (80), April 2013 special issue
Mr Bertrand Le Guern, chairman of the board of Petrolinvest SA, for the first time gives an interview to the Kazakhstan press. He tells Petroleum about the achievements and plans of the first Polish investor in the Kazakhstan’s oil and gas sector