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Kazakhstan confirms discovery of two offshore fields in Caspian Sea

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Two offshore fields have been discovered at the Caspian Sea in Kazakhstan for the first time after discovery of the giant Kashagan field, reports citing chairman of Geology and Subsoil Use Commission of Kazakhstan Ministry of Industry and New Technologies Bazarbai Nurabayev.

“These are Khazar field and Kalamkas-sea field that has received the final approval today,” Nurabayev said at the press-conference on Thursday.

According to the Commission, the subsoil users are KMG Kashagan B.V., Agip Caspian Sea B.V., ConocoFillips North Caspian Ltd., Exxon Mobil Kazakhstan Inc., INPEX North Caspian Ltd., Shell Kazakhstan Development B.V., Total E&P Kazakhstan, represented by operating company North Caspian Operating Company B.V. – NCOC acting on behalf of the contractor in the North Caspian Sea Production Sharing Agreement.

“A huge exploration work has been made since 2005. The submitted projects include seven development options. The fourth option is the most attractive and cost-efficient among them. Oil recovery coefficients have been calculated based on the feasibility study and the most effective options were recommended. Construction of islands from metal structures has been recommended for the fields. The operator is planning to complete all these works before 2019,” Nurabayev said.

Based on Kazakhstan C1+C2 evaluation methods the increase in the proved recoverable reserves made 98.6 million tons of oil: 67.6 million tons of oil in Kalamkas-sea and 31 million tons of oil in Khazar field.

Khazar field is located at Zhemchuzhiny contracted territory operated by Caspian Meruerty Operating Company B.V. working under the product sharing agreement with the right for exploration and production at the contracted territory signed on December 14, 2005.

The field was discovered in September 2007 when commercial oil was stuck during test drilling of middle Jurassic sediments in the first exploration well.

March 15 2013, 11:18

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