Kazakhstan to establish KMG drilling and service company
By Aynur Jafarova
Kazakhstan will establish a single company in the drilling and service area.
This was announced by Sauat Mynbayev, the chairman of Kazakh national oil and gas company KazMunaiGas, at the company's expanded board meeting on February 25. Prime Minister Serik Akhmetov also attended the event.
"The combined company - KMG drilling and service - will be established in the drilling and service area on the basis of all separate assets of KazMunaiGas," he said.
Mynbayev also noted KMG drilling and service will include five companies.
"Despite the fact that these companies have little in common and completely different technological level, this work must be completed as soon as possible," he stressed.
Mynbayev went on to say that Kazakhstan will also establish a scientific research institute for drilling and production.
"Kazakhstan will create a scientific research institute for drilling and production. It will be a technological competence center of KazMunaiGas in the sphere of exploration and production," Mynbayev said.
He stressed all project documents on every stage of exploration, drilling, production, technologies will be concentrated in the scientific research institute. It will consist of two institutions in Aktau and Atyrau. The Institute will be the sole developer of oil fields.
Kazakhstan, one of the five Central Asian countries, is rich with hydrocarbon reserves. The county's largest hydrocarbon fields are Kashagan, Tengiz, and Karachaganak.
The oil production in Kazakhstan amounted to 81.7 million tons in 2013 which is 3.2 percent more than 2012. Kazakhstan plans to produce 83 million tons of oil, 41 billion cubic meters of gas, as well as to process 14.7 million tons of oil in 2014.
Kazakhstan also possesses significant mineral and metal deposits.