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Kazakhstan announces plans for two oil, gas fields

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Staff writer ▼ | January 5, 2016
Kazakhstan expects Russia in 2016 to grant rights for subsoil use regarding the Central field, according to previous agreements, Kazakh ministry of energy told Trend.
Kazakhstan oil
Energy exploration   The Central field is located in the Caspian Sea
The Central field is located within the Russian sector of the Caspian Sea, but its development must be conducted with the participation of Kazakh partners. Reserves of the field are estimated at 169.1 million tons of equivalent fuel.

The term of the exploration license expired in 2009. The companies couldn’t obtain a new license, as Russian law forbade the work of private entities on the shelf.

In October 2015, the presidents of Russia and Kazakhstan signed a protocol allowing Russian government to issue a license for the geologic exploration and production of oil and gas on the Central field.

After obtaining the rights for subsoil use, Kazakhstan plans to carry out design and survey work and assess the damage inflicted to aquatic bioresources from engineering research on this field.

It is planned to continue consideration of feasibility study of the field development and agree conditions of production sharing agreement (PSA) regarding the "Khvalynsk" project in 2016, the ministry said.