The Karachaganak gas condensate field discovered more than 40 years ago is truly unique. Today Karachaganak is a world-class project with multibillion-dollar investments, record production levels, and innovative technologies.
One of the consequences of the pandemic-related oil price crash has been oilfield service financing cuts. In this article, we discuss the key conclusions from the recent Deloitte Research Centre review of the effects of oil market changes in 2020, as well as the prospects for global and Kazakhstan oil production, the financing of oilfield services and the major oilfield service market segments.
The annual purchasing of the oil-producing sector of Kazakhstan exceeds 10 billion US dollars, of which only half is accounted for by the domestic business. Meanwhile, according to experts, each additional 1% of Kazakhstan's oil and gas content can indirectly "keep" 100 million US dollars in the country.
Beket Izbastin, Director of the Department of subsoil use of the Ministry of Energy, tells the Council on the development of strategic partnerships in the oil and gas industry his vision of the development of Kazakhstani content in oil and gas projects.
Karachaganak project is one of the leaders in the oil and gas industry of the country in terms of the volume of purchased goods and services from Kazakhstani producers. At the end of last year, the project partners signed a major agreement with the Republic of Kazakhstan on the authorization of the KPC Gas Debottlenecking Project.
The unique Karachaganak project, since 2001, one of the first in the country has a Local Content Development Programme, updated every two years to set new challenges for KPO and set the trend in the development of local content for the entire oil and gas industry.
In 2018, KPO managed to reach record production levels of 148 million boe (barrels of oil equivalent) of stabilized and unstabilized liquid hydrocarbons, raw and fuel gas. 8.6 billion cubic metres of gas, which is approximately 45.4 per cent of the total gas produced, were re-injected to maintain reservoir pressure
KPO, supported by the Ministry of Energy of the Republic of Kazakhstan, West Kazakhstan local administration and authority body – PSA LLP is conducting active work on the involvement of local producers and oil service companies in the framework of the Local Content Development Program at the Karachaganak oil and gas condensate field in 2018-2019.
Karachaganak Petroleum Operating B.V. is one of the first companies in the Republic of Kazakhstan to implement the Local Content Development Program successfully.
The conceptual project of Kazakhstan local content development or Aktau Declaration on Joint Actions was signed in September 2012 by the national company KazMunayGas and three operators: Tengizchevroil, Karachaganak Petroleum Operating B.V. and North Caspian Operating Company.
What will happen to more than 100 measures to support domestic producers and local content, prescribed in some legal documents of Kazakhstan, after January 1, 2021, when the transition period will end
The history of development of offshore fields has more than 140 years. Back in 1876, the Nobel brothers founded an oil company in Baku, becoming the largest oil company in the Russian Empire, and which for the first time began oil production on the Caspian shelf at the Bibi-Eibate field.
The growth of competition in all sectors, the instability of prices on the oil market, the significant dependence of countries on hydrocarbons, the need for other types of minerals and the depletion of traditional deposits set new goals in the oil and gas industry, in particular, in geological exploration.
Askhat Otegenov, Interteach Director of Sales and Business Development, answers the questions of Petroleum Journal