KPO reports 11.3% increase in hydrocarbon output in Jan-June
ASTANA. Aug 16 (Interfax) - Karachaganak Petroleum Operating B.V. (KPO) increased oil output in January-June 2016 by 11.3% year over year to 78.8 million barrels of oil equivalent from 70.8 million barrels a year earlier, the company said in a press release.
The oil equivalent includes stable and unstable liquids, gas and fuel gas.
Gas injected into the reservoir in the reporting period amounted to 4.34 billion cubic meters or 44% of all produced gas, the press release says.
The Karachaganak oil and gas condensate field is one of the largest in the world. Its reserves are estimated at 1.2 billion tonnes of oil and 1.35 trillion cubic meters of gas. It is operated by Karachaganak Petroleum Operating B.V., which comprises BG-Group (29.25%), ENI (29.25%), Chevron (18%), LUKOIL (13.5%) and KazMunayGas (10%).
Karachaganak Petroleum Operating has been developing the Karachaganak field since 1997 on the basis of a 40-year production sharing agreement.
