Consortium to implement Eurasia hydrocarbon project in Kazakhstan’s Caspian shelf

ASTANA (TCA) — Transnational companies have established a consortium to implement the Eurasia project to develop super-deep hydrocarbon deposits in Kazakhstan’s section of the Caspian Sea, Kazakh Energy Minister Kanat Bozumbayev said after the signing of cooperation agreements between the Government of Kazakhstan and international companies on June 21, the official website of the Prime Minister of Kazakhstan reported.

“Today, a historic document was signed — the beginning of a large project Eurasia, on which Kazakhstan has been working for the past five years, was laid. World companies — Agip Caspian Sea B.V., RN-Exploration, CNPC International Ltd., Socar, KazMunayGas-Eurasia LLP, NEOS GeoSolutions — have united in a consortium to study the subsurface of the Caspian depression,” the Minister of Energy said.

Bozumbayev said that the Caspian depression is characterized by a complex geological structure and the presence of unique oil and gas fields. Taking into account the fact that part of the Caspian depression lies on the territory of the Russian Federation, the authorized bodies of Kazakhstan and Russia agreed to exchange geological and geophysical information.

The Energy Minister said that the Eurasia project was divided into three stages. The first one involves a complete interpretation of the available data and the creation of a new database, the second one involves geophysical studies. If, after the second stage, experts prove the availability of hydrocarbon reserves, the third stage will be devoted to drilling an exploration well, the depth of which will be about 15 km.

“Such super-deep drilling has not yet been carried out in the world. The deepest drilling in Kazakhstan today reaches 5 km. For example, during the Soviet time, in the Arctic, drilling was carried out at 11-12 km for 20 years. Now we have modern, more powerful equipment, so I think we will achieve good results,” Bozumbayev said.

Sergey Kwan

TCA

Sergey Kwan has worked for The Times of Central Asia as a journalist, translator and editor since its foundation in March 1999. Prior to this, from 1996-1997, he worked as a translator at The Kyrgyzstan Chronicle, and from 1997-1999, as a translator at The Central Asian Post.
divider
Kwan studied at the Bishkek Polytechnic Institute from 1990-1994, before completing his training in print journalism in Denmark.

View more articles fromTCA