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KazMunayGas has started geological exploration of the subsoil of five oil and gas blocks in the west of Kazakhstan From IFX


KazMunayGas

the main oil and gas basins of Kazakhstan, the press service of the company reported. The five sites identified for research purposes are Mugodzhary (Aktobe region), Berezovsky (West Kazakhstan region), Zharkyn (Mangistau region), Bolashak (Mangistau region) and Northern Ozen (Mangistau region).

According to the press service, this project was included in the list of KMG investment projects with capital expenditures in the amount of 29.5 billion tenge. An operator company represented by KMG Barlau LLP has been determined. “GIN (Geological Study of Subsoil – IF-K) licenses have been obtained for all 5 sites and preparations have begun for field seismic surveys. Seismic surveys are planned to be carried out in 2023-2025 with subsequent processing, interpretation of seismic data and geological and technical assessment (taking into account new data)”, – the information says.

It is noted that, based on the results of the assessment, decisions are expected to be made in 2025 on obtaining contracts for subsoil use.

“The GIN project is fundamentally new for KMG and reflects the vector of the strategy aimed at strengthening and expanding the geography of KMG’s exploration, searching for new promising areas and increasing the investment attractiveness of the oil and gas industry of the Republic of Kazakhstan,” the press release says.

According to the company, the project will be implemented using modern technologies in the course of field work and data processing/interpretation in order to reduce geological risks. Options for reimbursing the costs of the project are also being worked out, including through the involvement of strategic partners and the possible sale of research results.

KazMunayGas is Kazakhstan’s national operator for the exploration, production, processing and transportation of hydrocarbons, representing the interests of the state in the oil and gas industry.



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