The question on development of the sea fields Khazar and Kalamkas-Sea will be solved in 2018

The Ministry of Energy of Kazakhstan plans to reach final agreements on a joint development of the sea fields Kalamkas-Sea and the Khazar in 2018.

“We expect to achieve positive results on the project of development of Khazar and Kalamkas-Sea fields and negotiations are continuing,” Minister of Energy Kanat Bozumbayev said.

The North Caspian Operating Company, the operator of Kashagan, studies a possibility of joint development of the field Kalamkas-Sea and the nearby field of Khazar of the Caspi Meruyerty Operating Company B.V.

“Cumulative recoverable reserves of these two fields make 67 million tons of oil and 9 billion cubic meters of gas. We hope that economy of expenses as the result of joint development of these fields will provide economic efficiency of development of fields and also open perspectives for the development of other fields on the Central Caspian Sea,” specified the message of NCOC.

The Kalamkas-Sea field is located in a northeast part of the Kazakhstan sector of the Caspian Sea.

In 2013 the NCOC international consortium declared commercial opening on the Kalamkas-Sea field. According to some information, geological stocks of this field were estimated at least at 160 million tons of oil, and according to more optimistic forecasts up to 1 billion tons. The NCOC consortium plans to begin oil production on the Kalamkas-Sea field in 2022.

The Khazar field is in the water area of the Caspian Sea, located in the contract area of the offshore section of Kashagan. Its operator is Caspi Meruyerty Operating Company B.V. A production sharing agreement with the right of conducting exploration and production in the contract area signed on December 14, 2005.

The parties of the production sharing agreement are Shell, offshore Oil Company KazMunayTeniz, a subsidiary of KazMunaiGas, and Oman Zhemchuzhiny Company Limited.