Kazakhstan eyes 'second Kashagan' potential with onshore giant discovery

This was announced by Kurmangazy Iskaziyev, Deputy Chairman of the Management Board at KazMunayGas (KMG), at the "Geoscience and Exploration: Central Asia" Forum in Astana.

According to him, the key focus of current exploration is the Zhylyoi carbonate platform, which includes the Karaton, Kazhygali, and Zhylyoi blocks.

"The discovered Karaton, Kazhygali, and Zhylyoi carbonate formation mirrors the configuration of the Kashagan field. The resource potential of the reservoir is 4.7 billion tons of hydrocarbons, making it comparable to the geological potential of Kashagan. However, unlike Kashagan, which is situated in a shallow-water zone and requires heavy capital investment, this reservoir is located onshore. Consequently, capital expenditures are significantly reduced," stated Kurmangazy Iskaziyev.

The total resource potential of the broader Zhylyoi carbonate reservoir is estimated at 20 billion tons of oil equivalent.

At the Karaton block, a well has been drilled to a depth of 5,750 meters, identifying five prospective targets.

The executive noted that following the successful discovery at Karaton, the company plans to expand exploration to the Kazhygali block. Negotiations for subsoil use contracts are underway.

This new project remains independent of existing Production Sharing Agreements (PSAs) and is being developed in partnership with other companies, including Tatneft.

Earlier, Qazinform reported that Kazakhstan’s national oil and gas company, KazMunayGas, commented on the suspension of the joint development of the Kalamkas-Sea and Khazar oil and gas fields with Russia’s Lukoil.