Prime Minister Askar Mamin: New industrialization should meet new challenges
“Last year, the processing industry showed a high dynamics and growth of 4.1%. Attracted investments for 1.1 trillion tenge. More than 13 thousand jobs have been created,” said Askar Mamin, noting the need to pay attention to a number of issues. First. Mechanical engineering should be one of the drivers …
KPO Announces 2018 Performance Results
Karachaganak Petroleum Operating B. V. (KPO) has announced its performance results for 2018. In 2018, KPO managed to reach record production levels of 148 million boe (barrels of oil equivalent) of stabilized and unstabilized liquid hydrocarbons, raw and fuel gas. 8.6 billion cubic metres of gas, which is approximately 45.4 …
Energy Majors to Pay Kazakhstan $1.1 Billion to Settle Karachaganak Row
Energy majors developing the Karachaganak gas condensate field will pay $1.1 billion (£844 million) to Kazakhstan to settle a profit-sharing dispute, Kazakhstan’s Energy Ministry said on Monday. Kazakhstan and the consortium led by Shell <RDSa.AS> and Eni <ENI.MI> will also amend the terms of their production-sharing agreement so that the …
Luca Vignati, Executive Vice President, Central Asia Region at Eni, Talks About the Firm’s Journey in Kazakhstan, its Key Achievements Over the Last Year, and Support from the Authorities
How would you describe Eni’s remarkable journey in Kazakhstan since the company first established in the local market in 1992? The past 25-plus years in Kazakhstan have been an incredibly exciting for Eni, and we are very proud to have been engaged in two world-class projects—Karachaganak and Kashagan—since their inception. …
Kazakhstan Intends to Produce Over 104 mln tons of Oil Per Year by 2025
Kazakhstan intends to produce more than 104 million tons of oil per year by 2025. This was announced by Kazakh Energy Minister Kanat Bozumbayev at a government hour on the development of the oil and gas sector in Kazakhstan on May 21. The volume of investments in major projects that …
Karachaganak: Dispute to End Shortly?
Kazakhstan aims to settle its profit-sharing dispute with energy majors developing the Karachaganak gas condensate field within a month, the energy minister said on Thursday. The former Soviet republic expects a large one-off payment from the companies and a higher share of future revenues from the development of one of …
Kazakhstan’s Oil Exports Hit 24 Million Tons
The volume of export of Kazakh oil since the beginning of the year amounted to 24.1 million tons. This was announced by Energy Minister Kanat Bozumbayev at a government meeting on May 15. Today the situation in the market of petroleum products is stable, there is no shortage of fuel …
Kazakh Oil Companies Want to Compete with Foreign Majors for Contracts
Kashagan, Tengiz and Karachaganak account for 75% of all oil and gas service contracts in Kazakhstan By Kulpash Konyrova Industry leaders like US giants Chevron and ExxonMobil, Russia’s LUKoil and China’s CNPC carry out massive oil production operations in Kazakhstan, investing billions of dollars and employing up to 17,000 people …
Karachaganak: Kazakh Energy Minister – Hopes to Solve Dispute
Kazakhstan hopes to settle a dispute with global energy companies developing the Karachaganak gas condensate field in the coming weeks, Energy Minister Kanat Bozumbayev told reporters on Monday, reported Reuters. “I hope that before the end of this year we and the (Karachaganak) shareholders… will invite you to a table …
Karachaganak: Expansion Costs Halved
The estimated cost of a project to boost output at the Karachaganak gas condensate field in Kazakhstan has been halved from last year’s $9 billion, a senior Kazakh energy official said on Friday. The cost may be reduced even further, said Murat Zhurebekov, chief executive of PSA LLC, a unit …