KazEnergy chairman details Kazakhstan oil, gas development

He talked with Oil & Gas Journal regarding Kazakhstan's oil and gas development plans during the Kazenergy Eurasian Forum earlier this month in Astana.

Kazakhstan has the second largest oil reserves and production among former Soviet Union republics after Russia, producing 1.6 million b/d in 2012, according to the US Energy Information Administration. Kazakhstan's natural gas production is also significant, reaching 1.3 tcf in 2010, but the vast majority of this gas is reinjected into oil fields to enhance production. The bulk of the country's reserves of both oil and gas, totaling 30 billion bbl and 85 tcf respectively, lie in three western Kazakhstan fields: Karachaganak, Kashagan, and Tengiz, Oil and Gas Journal reports.

KMG is developing each of these projects in partnership with outside firms. BG Group, Eni SPA, Chevron Corp., and OAO Lukoil are its partners in Karachaganak Petroleum Operating BV. The North Caspian Operating Co.-comprised of Eni, Royal Dutch Shell PLC, ExxonMobil Corp., KMG, Total SA, ConocoPhillips, and Inpex Corp.-is developing Kashagan. KMG is developing Tengiz as part of Tengizchevroil (TCO), a partnership with Chevron, ExxonMobil, and LukArco.

Kazakhstan founded KazEnergy, an association of more than 50 major companies in the oil, gas, electricity, and uranium industries, including many of KMG's partners in the country's oil and gas fields, to better manage development of its resources.

The text of the exclusive interview can be found here: