Kazakh Energy minister talks oil fields development
By Kamila Aliyeva
The production at Kazakhstan’s largest field Kashagan is expected to reach 16 million tons per year by 2024, Kazakh Energy Minister Kanat Bozumbayev said.
He spoke about the further fate of the main oil fields in Kazakhstan and revealed the amount of money allocated for social and infrastructure projects at the meeting with the population, Kazinform reported.
“At Kashagan, according to the project of further expansion, the production is expected to increase from 13 million to 16 million tons per year by 2024. From the very beginning of the project implementation (since 1998), the volume of investments in the social and infrastructure development of Atyrau and Mangistau regions amounted to $570 million. In general, the allocation of $50 million annually for social and infrastructure development,” he said.
The minister also said that the plan for the future development of Karachaganak envisages the implementation of projects to maintain the current production level: modernization of gas facilities, construction of the 4th compressor and the 5th infield pipeline. The implementation period is by 2020 with an investment volume of over $ 1.5 billion.
Over the years of development of Karachaganak, about $ 342 million were allocated for the social and infrastructure development of the West Kazakhstan region. Every year, the allocation of $20 million for the social and infrastructure development of the region continues.
More than 30,000 Kazakh citizens work in Tengiz under the project of future expansion. Investments in the project amount to about $38 billion. Over $11 billion were spent in 2 years, and, in 2018, the plan is to spend more than $7 billion.
“After 2022, oil production in Tengiz will increase from the current 27 to 39 million tons per year. Since 1993, Tengizchevroil has sent more than $1.5 billion to social projects for the population of Atyrau region. In general, the allocation of about $25 million annually continues for the socio-infrastructure development of the Atyrau region,” Bozumbaev said.
Kazakhstan's proven oil reserves as of early 2016 stood at 30 billion barrels, according to the BP Statistical Review of World Energy.
Tengiz, Karachaganak and Kashagan are the largest oil fields in Kazakhstan. Three oil giants will be able to bring Kazakhstan's oil production to a new level in the coming years even if new oil fields are not discovered.
With the start of oil production at the Kashagan field, the forecasts of several international organizations on oil production in Kazakhstan immediately grew.
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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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