Project Profile
Location: onshore Caspian Sea, Kazakhstan
Area: 160 square km
Reserves: 96.983 million tonnes (September, 2016)
Reservoir depth: 228-466 m
Production: about 18,700 barrels per day (average volume of oil production in 1H 2013)
Start-up Year: 2013
The Karazhanbas oilfield is located on the shore of the Caspian Sea in close proximity to refineries, pipelines and port facilities which supply oil to the major markets in Central Asia, Europe and the Middle East. It covers a gross area of approximately 160 square kilometres with a depth of up to 500 metres.
The average volume of oil production in 1H 2013 was about 18,700 barrels per day (50% project basis). The quality of oil produced from the Karazhanbas oilfield is typically 19 degree API. Oil has traditionally been produced in the Karazhanbas oilfield primarily through the recovery process known as Cold Heavy Oil Production with Sand (CHOPS) and water injection in the development drill area. Starting from 2005, pilot tests of the thermal enhanced recovery processes of Cyclic Steam Stimulation (CSS) and steam flooding technologies were implemented on a small scale in the eastern part of the oilfield. The company and JSC KazMunaiGas Exploration Production (the holder of the remaining 50% Kazakhstan interest) will manage and operate the Kazakhstan Business as a joint venture through respective ownership interests.
The development plan of Karazhanbas oilfield in the next five years is expected to improve recovery rates and increase production volume throughout the oilfield, which includes the introduction of CSS and steam flooding technologies, redevelopment of existing wells and introduction of new wells. In order to meet increased production requirements and achieve cost efficiency, additional supporting infrastructure and facilities, such as installation of additional steam generation system, power supply system, natural gas utilization system, water supply system and water filtration system will be installed to enhance field processing capacity.
Operators:
Joint Venture: Operator
CITIC Resources Holdings Limited: 50% interest
JSC KazMunaiGas Exploration Production: 50% interest