Kazakhstan and Russia have signed contracts worth more than $8 billion for the exploration of complex hydrocarbon deposits. This was announced by the Petrol Council of Kazakhstan with reference to the country’s Energy Minister Almasadam Satkaliev.
One of the contracts was signed between the national operator of the oil and gas industry of Kazakhstan “KazMunayGas” and “Lukoil”. It provides for the development of hydrocarbons at three fields including Kalamkas-sea, Khazar and Auezov.
The fields of Kalamkas-sea, Khazar and Auezov are classified as a complex offshore project. They are located at a distance of 60 km from the coast in the Kazakh sector of the Caspian Sea. According to the Ministry of Energy of Kazakhstan, the recoverable reserves of the three fields are estimated at 87 million tons of oil and 86 billion cubic meters of gas.
Investments in these projects at the construction stage from 2023 to 2029 are estimated at $6 billion, according to the source.
KazMunayGas and Tatneft of Tatarstan signed an exemplary contract for the exploration of hydrocarbons at the Karaton-Podsolevoy field on the Caspian coast of Kazakhstan and Tatarstan. The project is estimated to cost US$2 billion. ///nCa, 31 August 2023
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