Oil&Gas
Egizkara oil Field Exploration Project
2018-01-09 14:00  点击:0
VIP:1级
The Egizkara oil field, which has estimated reserves of 200 million barrels, is LG International's third project in Kazakhstan. LG has 50% stake of the field ,The remaining 50% stake in the field is shared by multinational investors. But South Korea's state-owned Korea National Oil Corp(KNOC). will acquire a 25% stake in an onshore oil field in Kazakhstan from LG International Corp. (001120.SE), which will continue to hold 25% in the field. LG International plans to start drilling at the field, located near the Caspian Sea, in the second half of 2007, with exploration ending in December 2010. Early this year, KNOC formed a consortium with LG International under which each owns a 22.5% stake in the ADA block project and will announce a detailed development and investment plan to produce oil from the field next year. LG International has discovered the equivalent of 20 million barrels of the estimated 170 million barrels of reserves since it began exploration of the ADA block in August this year. The company said it was unsure how long the project would last, as it depends on its development.
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