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Output of Kazakhstan’s Karachaganak field down by 2%

Output of hydrocarbons at Kazakhstan’s Karachaganak oil and gas field totalled 136.3 million barrels in oil equivalent in 2013

ASTANA, January 29. /ITAR-TASS/. The output of hydrocarbons at Kazakhstan’s Karachaganak oil and gas field totalled 136.3 million barrels in oil equivalent in 2013, down by 2.3% year-on-year, the international consortium Karachaganak Petroleum Operating said on Wednesday.

“In 2013 Karachaganak Petroleum Operating produced 136.3 million barrels of stabilized and non-stabilized liquid hydrocarbons, gas and fuel gas in oil equivalent,” the consortium said.

According to the press release, shareholders of Karachaganak Petroleum Operating have already invested around $17.6 billion into the project. Direct payments to the Central Asian republic’s budget reached $10.3 billion.

In 2012 the consortium developed 139.5 million barrels of stabilized and non-stabilized liquid hydrocarbons, gas and fuel gas in oil equivalent, including 12.2 million tons of oil and 17.5 billion cubic meters of gas.

Karachaganak located in West Kazakhstan Province is one of the world’s biggest oil and gas condensate fields. Its reserves are estimated at over 1.2 billion tons of liquid hydrocarbons and over 1.3 trillion cubic meters of gas. The field is developed by the international consortium Karachaganak Petroleum Operating, where Britain’s BG Group and Italy’s Eni own a 29.25 percent stake each, the United States’ Chevron - an 18% stake and Russia’s LUKOIL - a 13.5% stake. A 10% stake belongs to Kazakhstan’s state-run company KazMunaiGaz.

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