MINEX Forum

Tag: KazMunayGas

  • Sinopec Begins Drilling Deep Exploration Well in Kazakhstan’s Sai-Utes Region

    Sinopec Begins Drilling Deep Exploration Well in Kazakhstan’s Sai-Utes Region

    Chinese energy giant Sinopec has commenced drilling operations on the C-1 exploration well in the Sai-Utes area of western Kazakhstan, marking a key phase in the region’s geological exploration campaign. The well, projected to reach a depth of 5,500 meters, will serve as a cornerstone for evaluating the area’s hydrocarbon potential.

    The drilling project follows two years of intensive preparatory work, including over 1,000 km of seismic surveys, and will cost approximately 4.7 billion tenge (around $10 million), according to Kazakhstan’s Ministry of Energy.

    During the pre-drill phase, Sinopec identified six potential hydrocarbon traps from the Carboniferous period and outlined two drill sites with estimated depths exceeding 5,000 meters. Officials stated that initial assessments of the site’s prospective resources are promising.

    This initiative comes alongside broader Chinese-Kazakh energy cooperation. In a related development, KazMunayGas and China National Offshore Oil Corporation (CNOOC) recently signed a 50/50 joint venture deal for exploration and production at the Zhylyoi field, which could hold over 185 million tonnes of oil, according to preliminary KazMunayGas estimates.

  • KazMunayGas to Develop Renewable Energy Sources at Tengiz Field

    KazMunayGas to Develop Renewable Energy Sources at Tengiz Field

    The management of KazMunayGas (KMG) has announced plans to develop renewable energy sources at the Tengizfield. This initiative was discussed by the head of the national company with Derek Magness, managing director of the American energy corporation Chevron.

    According to KMG’s press center, producing green energy will help reduce harmful emissions into the atmosphere and increase the additional energy supply. Moreover, these measures will allow significant volumes of natural gas to be freed up for domestic consumption. The company also highlighted that additional gas supplies are needed for petrochemical projects.

    Leaders from Chevron and KMG also discussed the development prospects of the Karachaganak field and Tengiz, as well as the support the corporation can provide in achieving the national company’s petrochemical ambitions.

  • KazMunayGas Invests 68 Billion Tenge in Oilfield Rehabilitation Projects

    KazMunayGas Invests 68 Billion Tenge in Oilfield Rehabilitation Projects

    KazMunayGas, the national oil company of Kazakhstan, has allocated 68 billion tenge towards the rehabilitation of two valuable oil and gas fields, Uzenskoye and Karamanbas. This update was provided by the company’s press center. The project, which began last year, is being implemented by Ozenmunaigas, a major oil enterprise and subsidiary of KazMunayGas.

    This year, the company’s leadership has approved a detailed task list and budget for the ongoing project. Of the total investment, 17 billion tenge was allocated last year, with an additional 51 billion tenge being added this year. The rehabilitation plan includes the deployment of over 200 Electric Submersible Pumps (ESPs), drilling 31 new wells, and undertaking extensive capital repairs of existing wells. Additionally, new methods to enhance oil recovery will be introduced, and a diagnostic and repair hall for underground equipment will be upgraded.

    So far, 23 new wells have already been commissioned, and over 100 have been equipped with modern technology. The project aims to increase oil production by 136,000 tons by the end of the current year, with an overall goal of extracting nearly 19 million tons of additional oil by 2036.