KazMunayGas plans to drill three exploration wells in 2024
ASTANA. April 27 (Interfax) - KazMunayGas JSC (KMG) plans to drill three exploration wells this year at the Abay block, at the Karaton-Podsolevoy and Turgai-Paleozoi sites, Magzum Mirzagaliyev, the Kazakh national oil and gas company's CEO, said.
"In order to accelerate reserves growth, we have formed a diversified portfolio of projects for implementation within the framework of exploration and appraisal of hydrocarbons. Offshore drilling of a 2,500-meter exploration well at the Abay block is in the immediate plans for the existing exploration projects," Mirzagaliyev said at the international scientific and practical conference dedicated to the oil and gas future of the Mangistau region, in Aktau.
The head of KMG also informed about the company's plans to begin drilling two more deep wells in 2024.
"Based on the results of our regional studies, we estimate the undiscovered hydrocarbon potential at 18 billion tonnes of oil equivalent, where the main prospects are associated with deeper and technically complex projects. As part of the study of deep sediments, this year KMG plans to begin drilling two deep wells of 5.5 km each on the Karaton-Podsolevoy and Turgai-Paleozoi projects in the Atyrau and Kyzylorda regions," he said.
Mirzagaliyev noted that in 2023, KMG initiated a large-scale seismic exploration project in new territories - geological study of subsurface (GSS) of five properties in the Aktobe, West Kazakhstan and Mangistau regions.
As part of the work on the GSS projects, field seismic exploration was completed last year in the Zharkyn and Northern Ozen areas. Currently, work is underway to process and interpret the data. In addition, this year it is planned to conduct 2D seismic exploration at the Bolashak site.
As reported, in February 2024, KMG and Russia's Tatneft agreed to create a joint venture to conduct geological exploration at the Karaton Podsolevoy subsoil site in the Atyrau region. Tatneft acquired a 50% stake in Karaton Operating Ltd., operator of the Karaton Podsolevoy project.
It was also reported that in July 2023, KMG, the Kazakh Energy Ministry and Eni entered into a contract for the exploration and production of hydrocarbons at the Abay site, exploration drilling is planned for the third quarter of 2024, and it is planned to invest $300 million in geological exploration.
KMG considered cooperation in the field of geological exploration with the Chinese CNPC to explore the Turgai Paleozoi site.
KazMunayGas is the Kazakh national operator for exploration, production, processing and transportation of hydrocarbons, representing the interests of the state in the oil and gas industry.