Kazakhstan: Major Oil and Natural Gas Projects
Return to Kazakhstan Country Analysis Brief (February 2008)
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Projected Investment | Project Status |
| Abai | Kazmunaigaz, Statoil | 2.8 billion barrels of oil | Kazmunaigaz signed a MOU with Statiol. A PSA was expected to be signed in 2007 | |
| Aktobe | CNPC Aktobemunaigaz (88%), (within Block ADA partners include Korean National Oil Corp (KNOC), LG International Corp, Vertom) | 1.17 billion barrels of oil | $4.1 billion | Producing 116,660 bbl/d of oil ( 2005), 69.6 Bcf/y of natural gas (2005) |
| Arman | Nelson Resources, Canada (50%); Shell (50%) | 10.8 million barrels of oil | -- | Produced 3,600 bbl/d of oil, 852 thousand cubic feet (mcf) of gas in 2005 |
| CPC: (Tengiz-Novorossiysk Pipeline) | Caspian Pipeline Consortium (CPC): Russia 24%; Kazakhstan 19%; Chevron (U.S.) 15%; LukArco (Russia/U.S.) 12.5%; Rosneft-Shell (Russia-U.K./Netherlands) 7.5%; ExxonMobil (U.S.) 7.5%; Oman 7%; Agip/Eni (Italy) 2%; BG (U.K.) 2%; Kazakhstan Pipeline Ventures LLC 1.75%; Oryx 1.75% | 990 mile oil pipeline from Tengiz oil field in Kazakhstan to Russian's Black Sea port of Novorossiisk; Phase I capacity: 565,000 bbl/d; Phase II capacity: 1.34 million bbl/d (2015) | $2.6 billion for Phase 1; $4.2 billion total when completed | First tanker loaded in Novorossiisk (10/01); exported 450,000 bbl/d in 2004, Target expansion to to 1.3 million bbl/d |
| Darkhan | Kazmunaigaz (Kaztransgas), possibly Chinese consortium including CNPC, and Repsol | 11 billion barrels of oil | Negotiations still underway with PSA to be signed in 2007. Located between the two offshore fields of Kurmangazy and Karazhambas | |
| Egizkara | LG Internatinal Corp (50%), Others | 200 million barrels of oil | Exploration beginning in October 2006 with drilling starting in late 2007 | |
| Emba | Kazakhoil-Emba (Kazmunaigaz subsidiary) 51%, MOL Rt, Vegyepszer (Hungary) combined 49% | 500 million barrels of oil | -- | Producing 57,700 bbl/d of oil (2004); produced 3.1 Bcf of natural gas (2004) |
| Istatai | Undisclosed | 1.75 billion barrels of oil | Negotiations with undisclosed partner continuing, PSA expected in 2007 | |
| Karachaganak | Karachaganak Integrated Organization (KIO): Agip (Italy) 32.5%; BG (U.K.) 32.5%; Chevron (U.S.) 20%; Lukoil (Russia) 15% | 2.3-6 billion recoverable barrels of oil & gas condensate reserves; 16-46 Tcf of recoverable natural gas reserves | $4 billion for Phase Two (completed in 2004) | Producing 202,900 bbl/d, 1.1 mmcf/d natural gas (2005), 70% of oil exported through CPC |
Karakuduk |
Lukoil | Total estimated proved plus probable reserves of approximately 63 million barrels | $190 million through 200 with $170 million expected between 2006-2010 | Producing 10,076 bbl/d of oil; produced 4.8 mmcf/d natural gas (2005) |
| Karazhanbas | Nations Energy | 400 million barrels of oil | $250 million since 1997, $120 million in 2005 | Producing 44,800 bbl/d (2005), (80-90 thousand bbl/d planned in next 2 years); produced 1.8 mmcf/d natural gas (2005) |
| Kashagan | Agip Kazakhstan North Caspian Operating Company (Agip KCO) (formerly OKIOC): Eni, Total, ExxonMobil, and Shell (16.66%), ConocoPhillips (8.28%), Kazmunaigaz (16.81%), Inpex (8.28%) | 9 billion to 13 billion recoverable (up to 38 billion probable) | Origionally costed at $29 billion but estimates put final total approacing $50 billion | Production starting no sooner than 2009 (initial production slated for 75,000 bbl/d, max 1.2 million bbl/d by 2013) |
| Kazgermunai | Petrokazakhstan (25%), Kazmunaigaz 50% | 100 million barrels of oil | $300 million | Produced 37,300 bbl/d of oil; 32 mmcf/d of natural gas (2005) |
| Khvalinskoye | Kazakhstan and Lukoil | 400 million barrels of oil. 12.3 trillion cubic feet of natural gas. Target start date 2014 |
$3.5 billion for petrochemicals plant. | Field is located on the Kazakh-Russian border in the Caspian Sea and is Russia's jurisdiction. Agreement being prepared during 2007, signing expected during 2008.. |
| Kumkol (North) | Turgai Petroleum: Petrokazakhstan (50%), and Lukoil (Russia) | 97-300 million barrels of oil | -- | Producing 60,000 bbl/d of oil, 18.3 mmcf/d of natural gas (2005), Legal dispute between PKZ and Lukoil has stopped production in the past |
| Kumkol South and South Kumkol | PetroKazakhstan Kumkol Resource (PKKR), wholly owned by PetroKazakhstan | 116 million barrels of oil | Producing 62,000 bbl/d of oil, 18.1 mmcf/d of natural gas (2005); Development of export pipeline infrastructure will allow for production growth | |
| Kurmangazy | AO Kazmunaiteniz Offshore Oil Company (a KazMunaiGaz subsidiary) 50%, Rosneft subsidiary OOO RN-Kazakhstan (25%). Russia's Zarubezhneft has an option on 25% in the project | 2.2-8.8 billion barrels of oil | $23 billion allocated over 55 years. | Russia and Kazakhstan signed PSA in July 2005; Start date of 2009, Rosneft reports first assessment well drilled yeilded disappointing results. |
| Mangistau | Mangistaumunaigaz (Kazmunaigaz subsidiary) | 1.4 billion barrels of oil | -- | Producing 113,200 bbl/d of oil, 33.3 mmcf/d of natural gas (2005) |
| North Buzachi | Lukoil (50%), China National Petroleum Corp. (50%) | 1 to 1.5 billion barrels of oil | Over $800 million | Producing 15,000 bbl/d of oil, 4.5 mmcf/d of natural gas (2005), Accelerated development plan approved in 2004 |
| Nursultan ("N" Block) | Kazmunaigas operating independently. ConocoPhilips, Shell had been mentioned as participants | 4.65 billion barrels of oil | PSA signed in 2008. $40 million allocated. | |
| Satpayev | Kazmunaigaz, Oil and Natural Gas Corp. (ONGC) | 1.85 billion barrels of oil | PSA expected to be signed in 2007 | |
| Tengiz | TengizChevroil (TCO): Chevron (U.S.) 50%; ExxonMobil (U.S.) 25%; Kazmunaigaz 20%; LukArco (Russia) 5%, discovered in1979, agreement signed in 1993 | 9 billion barrels of oil | $23 billion over 40 years | Producing 271,000 bbl/d of oil (2005); expected max production of 1 mill. bbl/d by 2012; produced 580 mmcf/d of natural gas in 2005 |
| Tsentralnoye | Kazmunaigas, Gazprom, Lukoil | 3.8 billion barrels of oil, and 3.24 Tcm | N/A | A first deep-water exploration well is to be drilled at the end of 2007 |
| Tyub-Karagan | Lukoil | 7 billion barrels of oil | 2006 exploration well yielded disappointing results. Second delayed until 2008 | |
| Uzen | Uzenmunaigaz (Kazmunaigaz subsidiary) 100% | 147 million barrels of oil |
-- | Producing 127,000 bbl/d of oil (2004), 29.8 Bcf of natural gas (Jan-Sep 2004), 30% improvement from 2003 from advanced technologies |
| Zhambyl | Kazmunaigaz (73%), Korean National Oil Consortium (27%) KNOC: KNOC (35%), SK Corp (25%), LG Corp (20%), Daesung and Samsung (10% each) | 1.26 billion barrels of oil | -- | KNOC and Kazmunaigaz to be joint operators. Full scale exploration and drilling to begin in January 2007. |
Zhemchuzina (aka Pearls Block) |
Shell (55%), Kazmunaigaz (25%), Oman Oil Company (20%) | 733 million barrels of oil | Plan to set up a joint operating company by the end of 2006 with Shell financing 100% of the appraisal program | |
| Unless otherwise noted, all production figures from the Caspian Investor, March 2006 | ||||
Sources: FSU Oil and Gas Monitor, Reuters, Interfax, WMRC/Global Insight, Company Websites, Caspian Investor (www.wtexec.com)
Other Useful Links:
IMF Kazakhstan Country Report 2004 (page 24)
Nelson Resources Field Page
Caspian Pipeline Consortium (CPC) Homepage
Kazmunaigaz Homepage (in English)
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Last Updated:
February 1, 2008
Contact:
Michael Cohen
(202) 586-7057
michael.cohen@eia.doe.gov