Investments in hydrocarbon exploration total at $82.5mln – Kazakh Energy Ministry
Kazakh Vice Minister of Energy Yerlan Akkenzhanov reported on the ongoing work to develop hydrocarbon exploration in the country during the government session, Kazinform News Agency correspondent reports.
According to Akkenzhanov, three contacts on challenging projects have been concluded in 2024, including with Kazmunaygas for exploration of Karazhar area and with Qazaqgaz for exploration of Maldybay and Shalkar areas.
In order to accelerate the development of reserves, transition was made from exploration to assessment on one contract and from exploration to production on ten contracts.
Two e-auctions with 15 areas successfully auctioned have been held this year, with signing bonuses totaling 32.7 billion tenge, of which the budget received 9.1 billion tenge so far. Investments in geological exploration stood at 82.5 million US dollars, said Akkenzhanov.
Besides, 56 projects of exploration works, approved by subsoil users, have been delivered on a notification basis, saving subsoil users around two months to get state expert appraisal.
In 9 months of this year, subsoil users invested 4.3 trillion tenge, including 125.9 billion tenge in geological exploration (drilling 50 wells, re-processing and interpretation of 2D seismic data over an area of 5,923 linear kilometers, and 3D seismic data – 1,247 square kilometers), concluded the vice minister.