Kazakhstan expects gas output to soar from three fields alone

Feb 08, 2001 01:00 AM

Kazakhstan expects to produce 47 bn cmpy of gas by 2012 from three fields alone, compared with total national production of just 12 bn cm last year, the first deputy prime minister said. Danial Akhmetov said the huge offshore Kashagan field could be producing 30 bn cmpy by that date, with a further 10 bn cm from the onshore Karachaganak field and another 7 bn cm coming from Tengiz, also onshore in western Kazakhstan.
He was speaking at a meeting with Guy Hollingsworth, director of Chevron Overseas Eurasia, which holds 50 % of the TengizChevrOil joint venture developing Tengiz. Hollingsworth added that Tengiz produced around 3 bn cm last year.

Current Kazakh gas production does not cover domestic demand and the country imports the balance from neighbours Uzbekistan and Russia.
Kazakhstan recently outlined plans to develop a long-term gas strategy to work out what to do with its extra gas production over the coming years. Karachaganak is being developed by Agip, BG, Texaco and LUKoil.
Kashagan is being explored by the OKIOC consortium which consists of Phillips Petroleum, Agip, BG plc, BP Amoco, Shell, TotalFinaElf, ExxonMobil, Statoil and Inpex. Meanwhile, Economy Minister Zhaksybek Kulekeyev said Kazakhstan planned to attract $ 65-$ 70 bn to its promising oil and gas sector over the next decade.
"Naturally, our huge natural resources and highly educated and well trained workforce attract investors," Kulekeyev told. "I believe that in the next 10 years the oil and gas sector alone will attract $ 65 bn to $ 70 bn in foreign direct investment."

Kazakhstan, a vast mineral-rich state of 15 mm, has received $ 10 bn in foreign investment since independence in late 1991, including slightly over $ 1 bn last year. But government officials say the investment so far may be dwarfed by future foreign input to develop Kazakhstan's hydrocarbon riches, mainly in the Caspian basin in the west of the country.
High official hopes are primarily attached to the huge and so far untapped Kashaganfield on the Caspian shelf, which could make Kazakhstan a leading oil producer within the next 20 years.
Kazakhstan also plans to raise this year's crude output to 37-40 mm tons (745,000 to 800,000 bpd) from 35.3 mm tons (710,000 bpd) last year, largely owing to the launch of a new pipeline from the giant Tengiz oilfield to Russia's Black Sea port of Novorossiisk.
The pipeline, to be launched by the multinational Caspian Pipeline Consortium (CPC) by the middle of this year, is also expected to be a key factor behind this year's targeted 4 % growth in Kazakhstan's gross domestic product, the economy ministry said.

Source: Al Nisr Publishing LLC
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