Kazakhstan expects positive drilling results at Karaton Subsalt block, drilling progress of exploration well exceeds 70%

TYUMEN. Sept 16 (Interfax) - JSC KazMunayGas (KMG) and PJSC Tatneft have drilled more than 70% of the planned depth of the exploration well at the Karaton Subsalt block, Kazakh Deputy Energy Minister Kazakhstan Kudaibergen Arymbek said during the Industrial and Energy Forum (TNF 2025).

"The Karaton Subsalt project. Here, our national company together with Tatneft are conducting exploration of the subsalt block with the involvement of Russian contractors who have experience working in complex geological conditions. The drilling depth of the well is 5,500 meters. Literally two weeks ago, when I checked, they had already reached a depth of 3,900 meters. We expect positive results. Work is currently ongoing," Arymbek said.

He later told journalists at the sidelines of the forum that drilling was expected to be complete by the end of the year.

As reported, the companies began drilling the first exploration well at the Karaton Subsalt block in November 2024.

The Karaton Subsalt block is located in the Atyrau and Mangystau regions near the operating Tengiz and Korolevskoye fields and the group of fields of JSC Embamunaigas. The geological resources of the block are 353 million tonnes of oil, with a 50% probability of confirmation.

Investment in the project could amount to $2.4 billion, under carry financing terms from Tatneft. This principle stipulates that the costs are borne by the investor at the geological exploration stage. If the well turns out to be dry, this risk will be on the Russian company, but if the well yields a positive result, the costs will be compensated.

The project operator is Karaton Operating Ltd. Tatneft acquired a 50% stake in the company in February 2024.