Azernews.Az

By Aynur Jafarova

Kazakhstan approved two oil and gas perspective fields in the Zhambyl area in the Kazakh sector of the Caspian Sea as a result of drilling in the Middle Jurassic age sedimentation, the KazMunaiGas National Joint Stock Company (KMG) reported on August 29.

The drilling of the first exploration well at the Zhambyl structure was carried out by KMG jointly with KC Kazakh B.V from May until August 2013.

Zhambyl Petroleum LLP was involved in the organization of the drilling works.

The testing of sites has been concluded.

Drilling of an exploration well at the Zhambyl structure was conducted from the new Caspian Explorer offshore drilling rig, built specifically for geological exploration works in the Zhambyl area in accordance with the agreement between the KMG and the KC Kazakh B.V.

During the drilling works all norms of Kazakhstan's legislation in the field of environmental protection, as well as the norms envisaged by the best common international practice were complied.

KMG and KC Kazakh B.V will continue geological exploration works at Zhambyl area.

It is planned to conduct 3D seismic exploration works at the Zhambyl structure and drilling of the well at Zhetysu structure.

The operative estimation of hydrocarbon reserves at the Zhambyl structure will be presented on the basis of results of geological and geophysical surveys, laboratory analysis of core and reservoir fluid.

Earlier Kazakh Oil and Gas Minister Uzakbay Karabalin said at a meeting with Kazakh President Nursultan Nazarbayev that Kazakhstan has achieved an oil inflow with the flow-rate of 60 tons per day on the Zhambyl structure while testing an exploration well.

In the first half of 2013 Kazakhstan produced more than 40 million tons of oil and gas condensate.

In the first half of 2013, production of oil and gas condensate stood at over 40 million tons, accounting for 101.8 percent of the figure reported in the similar period of 2012, the minister said.

Kazakhstan's largest hydrocarbon fields are Kashagan, Tengiz and Karachaganak.

Recoverable oil reserves of Kashagan field are estimated at 11 billion barrels, whereas total geological raw material reserves stand at 35 billion barrels. It is believed to be the largest oil field in the world after Prudo Bay in Alaska. Besides, natural gas reserves are estimated at over 1 trillion cubic meters.

The commencement of commercial production at Kashagan is expected by mid-2013. The first phase of the project envisions the volume of production at around 370,000 barrels of oil per day with a possible increase to 450,000 barrels. The second phase envisages increasing production to 375,000 bpd within at least three years.

The Tengiz oil field was discovered in 1979 and is one of the deepest and largest oil fields in the world. Reserves of the deposit are estimated at 750 million to 1.1 billion tons (6-9 billion barrels) of recoverable oil.

Karachaganak is one of the world's largest fields. Its oil reserves amount to 1.2 billion tons, while those of natural gas - 1.35 trillion cubic meters. 49 percent of Kazakhstan's gas production and 18 percent of oil production comes from this field.