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    Kazakhstan

    KazMunayGas to allocate $154 mn for oil field rehabilitation

    KazMunayGas to allocate $154 mn for oil field rehabilitation

    KazMunayGas (KMG), the national oil company of Kazakhstan, announced an investment of $154 mn for the redevelopment of the Uzen and Karamandybas oil fields in the Kazakhstan's Mangystau region. This initiative aims to increase the production capacity of these fields.

    Photo: KazMunayGas 
    Source: Freepik

    Upon completion of the rehabilitation project, the annual output of these fields is expected to rise to 5.2-5.5 mn tons. This year, the company aims to produce an additional 136,000 tons of oil, to extract 19 mn tons between 2023 and 2036.

    In 2023, KMG invested $38.5 mn in this project, followed by an additional $115.5 mn in 2024. The company's focus for 2024 includes the commissioning of new wells, the introduction of centrifugal and screw submersible pumps, and the use of protected pump-compressor pipes.

    According to KMG CEO Magzum Mirzagaliyev, without the rehabilitation project, the Uzen and Karamandybas fields would remain unprofitable due to a 25% decline in output over the past 15 years, outdated infrastructure, increased production costs, and a surplus of workers. The project aims to extend the inter-overhaul period for wells, enhance economic efficiency, and prevent a significant drop in oil output.

    Photo: KazMunayGas to allocate $154 mn for oil field rehabilitation
    Source: Freepik

    As part of the project, KMG commissioned 23 new oil wells in February 2024, following the hydraulic fracturing of the formation and the installation of centrifugal and screw pumps. The company has also upgraded production equipment in over 100 wells.

    Looking ahead, KMG plans to drill 31 additional wells, install over 200 submersible pumps, utilize protected pump-compressor pipes, perform well overhauls, and implement new technologies to increase oil production. Additionally, KMG will upgrade two modular cluster pump stations and a workshop for inspecting and repairing oil production equipment.

     

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    17.05.2024, 13:44   Comments (0)   892
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    Sabina Aliyeva

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