KazMunaiGas’ recoverable oil reserves exceed 800 mm tons

Mar 08, 2014 12:00 AM

By Daniar Mukhtarov - Trend.az

The recoverable oil reserves, accounting for the Kazakh national oil and gas company 'KazMunaiGas', stood at over 800 million tons, chairman of KazMunaiGas' board, Sauat Mynbayev told.

"In 2013 the proven recoverable liquid hydrocarbons reserves amounted to over 811 million tons," he said.

Mynbayev added that the company continues the exploratory drilling in the Caspian Sea's shelf.

"An exploration well was drilled on the Zhambyl offshore section in 2013 and the drilling of a deep subsalt well, with 6000 meters depth started at the Urikhtau section. Oil deposits were discovered as a result of drilling the first exploratory well - Zhambyl-1," Mynbayev said.

He stressed that in 2013 the consolidated growth of the company's hydrocarbon reserves stood at 11.5 million tons, according to the results of explorations and revaluation of reserves on the contract territory.

Mynbayev also said KazMunaiGas plans to conduct explorations this year in Atyrau, Mangyshlak, West Kazakhstan and Aktobe oblasts (regions).

"Our company signed a contract with the Oil Ministry for conducting exploration in the Kansu area. An application was also submitted to the Oil Ministry to hold direct talks with regard to the Kosbulak and Issatay sites," Mynbayev added.

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