KMG, Lukoil to select Kalamkas-Sea, Khazar project engineering contractor
ALMATY. July 18 (Interfax) - Kazakhstan's KazMunayGas (KMG) and Russia's Lukoil have been discussing the implementation of the Kalamkas-Sea/Khazar project, which is currently at the stage of selecting an engineering contractor, the KMG press service reported.
According to the press service, KMG CEO Askhat Khasenov visited Moscow on July 18, where he met with the management of Lukoil.
"In particular, issues of the implementation of the Kalamkas-Sea/Khazar project were raised, for which the selection of the engineering contractor is currently underway. According to the plan, the construction of the topside of the offshore platform weighing 14,000 tonnes should be performed at Kazakh shipyards," the information says.
KMG and Lukoil also discussed the expansion of Tengiz and Karachaganak fields.
"Khasenov confirmed the invariability of KazMunayGas's course towards strengthening cooperation with Lukoil, expressing confidence in the successful implementation of joint initiatives," the company said.
In June it was reported that the oil and gas project for the development of the Kalamkas-Sea and Khazar fields was getting underway in Kazakhstan. It was noted that work on the construction of offshore platforms will begin in 2026 at Kazakh shipyards to ensure the earliest possible start of production at the Kalamkas-Sea field.
It was previously reported that KMG and Lukoil will make a final investment decision on the Kalamkas-Sea, Khazar, Auezov project in the Kazakh sector of the Caspian Sea in 2025.
"During 2024, the front-end engineering design phase (FEED) with completion at the end of the year is planned. The final investment decision (FID) on the project is expected in 2025," the KMG report says.
According to preliminary estimates of the Kazakh company, the investments volume will be about $6.4 billion. Previously, the cost of developing the fields was estimated at approximately $5 billion.
The project for the development of the Kalamkas-Sea, Khazar, Auezov fields was approved by the Central Commission for Exploration and Development of Hydrocarbon Fields of Kazakhstan in September 2023.
The fields are located in the Kazakh sector of the Caspian Sea. The depth of productive horizons is at the level of 1,500 m- 2,000 m below the seabed.
Commercial production of the first oil at the Kalamkas-Sea, Khazar field is planned for 2028-2029. Total recoverable reserves are estimated at 48.5 million tonnes of oil and 19 billion cubic meters of gas. Anticipated production is about 4 million tonnes per year (80,000 barrels per day). The production plateau is at least five years, as indicated in the KMG report. Participants in the Kalamkas-Sea-Khazar project are KazMunayGas (50%) and Lukoil (50%).
