PETROLEUM. Analytical journal. New projects, fields’ development, production, processing and transportation of oil and gas, presentation of the companies, statistics on the production of hydrocarbons, monitoring of investment legislation.

News 2014

KMG EP

KazMunaiGas Exploration Production JSC announces that JV Kazgermunai’s Aksay oil and gas field located in Kyzylorda region has been put on stream. At the commissioning ceremony, KMG EP Chief Executive Mr Abat Nurseitov said: “Aksay field commissioning will allow Kazgermunai to maintain oil production at current level.

Also, additional volumes of gas will allow Kazgermunai to continue fulfilling its social obligations by providing gas to Kyzylorda city.” According to the report of independent consultant Miller and Lents, Ltd. there were 1.5 million tonnes of 2P oil reserves, and 1,626 million cubic meters of gas as at 31 December 2013 in Aksay field.

It is preliminarily planned that 114,500 tonnes of oil (2.4 kbopd) and 70 million cubic meters of gas will be produced in 2015 from Aksay field. It is expected that the oil will be supplied in accordance with Kazgermunai’s current sales routes and gas will be supplied to domestic market at price set by the government.

The investment into the Aksay field infrastructure development is 9.6 bn Tenge (approximately US$53m). It is expected that additional investment will be made in well construction. Aksay structure was discovered in early 1980s, and between 2002 and 2006 the field was in pilot production. After additional exploration in 2011 it was found that Aksay is in fact a gas field with oil fringes.

The field is situated to 25 km from Akshabulak field and occupies an area of 296 sq. km. KMG EP acquired 50 percent stake in JV Kazgermunai LLP in 2007. 2P oil reserves of JV Kazgermunai LLP at the end of the end of 2013 amounted to 25.9 million tonnes.