In a statement issued on 4 June, Kazakhstan’s Ministry of Energy announced that work on an oil and gas project to develop the Kalamkas-Sea and Khazar fields is now ready to begin.
The Kalamkas-Sea and Khazar Fields Joint Development Project will be implemented by Kalamkas-Khazar Operating, a specially created venture comprising Kazakhstan’s national oil and gas company KazMunayGas (50%) and Russian oil company Lukoil (50%).
Construction of the steel offshore platforms will begin in 2026 at Kazakh shipyards to ensure the earliest possible start of production at the Kalamkas-Sea field.
The project aims to attract over $6 billion in direct investment and during its development phase, create up to 2,000 jobs. Once in operation, a further 300 posts will be added.
The Kalamkas-Sea field, 50km long and 6km wide, sits in the central part of the north-eastern sector of the Caspian Sea, 64 km offshore at a depth of 6-7 meters. The Khazar field is located 30 km southwest of Kalamkas-Sea and 65 km northwest of the Buzachi Peninsula.
The Kalamkas-Sea and Khazar fields are the only fields in the Kazakhstan sector of the Caspian Sea with confirmed reserves.
