News 2014
March 2014KPO
Kazakhstan’s share in the production sharing project of the largest oil and condensate field Karachaganak will increase up to 36 % in 2014, said Kenzhebek Ibrashev, General Director of PSA LLP. "In the current year it is expected to change the ratio of profit oil for the benefit of the Republic of Kazakhstan. Compared to the first quarter, the second quarter of 2014 will bring to Kazakhstan more profits in form of hydrocarbons for 9%. Kazakhstan's revenues consist of two parts: profit oil and compulsory payments to the budget and taxes.
Given the increased ration of profit oil and therefore, lower taxable base for the contractor, the total return of the Republic will increase by $ 70 million in 2014. Based on the annual results, we expect that the share of Kazakhstan in the production will increase from the present 20% to 36%”, said K.Ibrashev in an interview to the web-site primeminister.kz.
According to Mr.Ibrashev, regarding the Karachaganak project Kazakhstan is located at “phase 2M", producing about 10-11 million tons of liquid hydrocarbons (oil and gas condensate) annually, with certain amount of gas injected back to the reservoir and about 8-9 billion cubic meters of gas are sold to Orenburg Gas Processing Plant. "At present, about 9 million tons per year are transported by the Caspian Pipeline Consortium system at the best price, order and approximately 1 million tons are pumped through the Atyrau-Samara pipeline and around 800-900 thousand tons of raw materials are sold to the Orenburg GPP”, he added.