11-12-02 Repsol-YPF has concluded an agreement with KazTransGaz, the Kazakhstan state gas concern for the joint development of the Amangeldy gas field. Repsol has just completed the fourth appraisal well on the field as a producer.

Repsol said that the Amangeldy Field will cost approximately $ 770 mm to fully develop, and that this cost will be shared proportionally by the two partners. During the first phase of this development, Repsol will be investing $ 80 mm and KazTransGaz $ 51 mm.
The Amangeldy Field is located onshore in Kazakhstan's Chu-Sarysu Basin. It is one of seven fields that the partnership will develop. The Kazakh State Committee on Resources estimates the seven fields have combined reserves in place of about 880 bn cf of natural gas.

Repsol and KazTransGaz anticipate that production will commence from the Amangeldy Field next year at an initial rate of approximately 57.5 mm cfpd. Following its development, the partners will commence appraisal drilling on the Anabay, Ayrakty, and Kumyrly discoveries.
Kazakhstan has high hopes for the development of these Chu-Sarysu gas fields, since they are expected, at peak production, to be producing about 145 mm cfpd, which will allow the country to end its import of gas from neighbouring Uzbekistan.