The spring of 2020 for the global oil and gas industry has become truly dramatic, on par with, perhaps, the energy crisis of 1973.
At the year-end 2019 Kazakhstan produced a record amount of oil and gas condensate – 90.5 mln tons, and almost half of this volume was produced in the Atyrau region.
The oil and gas sector is one of the leading industries of the region's economy, 70% of the region's industrial production is provided by oil and gas production.
In 2020, the world faced a challenge that cannot be adequately met without combining the efforts of all countries, different social and business groups and all of humanity.
In2009, ExxonMobil engineers drilling into deep offshore oil deposits in the Gulf of Mexico unexpectedly encountered particularly hard and abrasive rock formation. Instead of taking the drill bit half a day to drill through this formation, it ultimately took four runs, or trips in and out of the hole, and three weeks.
President of the NOC Kazakhoil Nurlan Balgimbayev answers the following questions for Petroleum.
A really epoch-making event for Kazakhstan occurred on March 26, five kilometers from the city of Atyrau.
The carrot and the stick - such policy has been chosen by the leadership of Kazakhstan in its interrelations with investors.
Kazakhstan Has Won Again the Shareholders of the North-Caspian Consortium.
The Kazakhstan authorities have gained an important political victory.
There is the bad news from the Kazakhstan sector of the Caspian Sea.
George Kirkland, an Executive Vice President, Upstream and Gas, Chevron Corporation, answers the questions of Oleg Chervinskiy, a Petroleum Editor-in-Chief.
Whether KMG needs a plant in Mazeikiu?
In late 2006 the first pages of the large-circulation Polish newspapers carried screaming slogans such as “Mazeikiu has been captured” or “Orlen is in the mouth of the Russian bear”.
Finally, Kazakhstan used its priority rights to purchase an 8.4% share in Kashagan field, previously owned by ConocoPhillips.
Kazakhstan’s offshore projects are only profitable if the oil price is $ 80-100 per barrel
Offers Below $80 Are Not Accepted!
The Strategy of the National Company KazMunayGas JSC on "building the muscles” by acquiring the assets, announced couple of years ago, nowadays is replaced by a no less active sellout due to low global oil prices.
On a mirror-smooth road through the Caspian desert at a speed of 5 km per hour, a powerful towing truck pulls something futuristic. A day later, this cargo will be delivered to its destination – the Tengiz field, which hides about 3.2 bln tons of proven oil reserves of the highest quality in its depths. And the cargo is one of the massive production modules intended for the construction of the Future Growth Project-Wellhead Pressure Management Project (FGP-WPMP), which should increase the volume of oil production at Tengiz from the current 27 mln tons per year to 39 mln tons.