Project Profile
Value: US$360 million
Location: Western Kazakhstan
Start-up Year: 2012
Proven Reserves: 74 million barrels
Probable Oil Reserves: 53 million barrels
Area: 16,900 acres
Chaparral Resources and LUKoil Oversees jointly own KarakudukMunai, a Kazakh company which holds a license for the Karakuduk field.
The field is located onshore in the Mangistau region of western Kazakhstan, 340 kilometers northeast of the Caspian port of Aktau, and is operated by Joint Stock Company Karakudukmunai (KKM), which will be owned 60% by Chaparral and 40% by Nelson. KKM was awarded a 25-year commercial development license for the field in 1995.
The Karakuduk field has direct access to export markets. The field is approximately 29km west of the main utility corridor, including the Makat-Mangishlak railroad and the Uzen-Atyrau-Samara oil and gas pipelines. KKM has a right to use the existing oil export pipeline and related utilities. It also has a contract with CJSC Kaztransoil, a 100% subsidiary of Kazmunaigas, granting the right to use the export pipeline for transportation of crude oil to local and export markets. KKM has a 29 km crude oil pipeline from the field capable of transporting up to 18,000 barrels of oil per day to the export pipeline terminal.
Operators:
Karakuduk Munai JV: Operator with 60% interest
Chapparal Resources Inc
Lukoil
Sinopec
KazMunaiGaz: 40% interest
Contractors:
Petrofac: Maintenance contract