‘Eurasia’ project may become unprecedented in geological science – Oil & Gas Minister

June 17. KAZINFORM. ASTANA

‘Eurasia’ project may become unprecedented in geological science - Oil & Gas Minister“Eurasia” project, based on the geological study of the Caspian Basin, may become an unprecedented example of new approaches in global geological science, this has been stated by Minister of Oil and Gas Uzakbay Karabalin in Moscow at the 21st World Petroleum Congress.

In his speech at the Kazakh ministerial session Mr. Uzakbay Karabalin drew attention to the growing role of advanced scientific innovation. In this regard, Kazakhstan is now initiating a number of interconnected innovative projects.

“I want to pay special attention to the project called “Eurasia”, aimed at a regional study of the Caspian Basin. It may become an unprecedented example in geological science”, said the Minister.

“At the moment we are considering the creation of a consortium of leading companies in the world, operating with modern processing technology. In addition we are discussing drilling of a super deep key-parametric well, which depth is to reach 15 kilometers”, said Karabalin.

Congress has been held once in three years since 1933. The latest one was held in Qatar in 2011. The Congress is organized by the World Petroleum Council with head office in London. Sixty-nine countries are the Council’s members. Ukraine became a new member of the WPC in autumn last year. Despite sanctions with regard to Russia over Crimea’s reunification with the RF, Western company have decided not to boycott the Congress in Moscow.

The congress has being attended by Kazakhstan National Committee of World Petroleum Council, represented by oil and gas companies-members of KAZENERGY Association.

World Petroleum Congress is taking place in Moscow. It will run until June 19. The event gathered 5,000 delegates from 80 countries.

http://www.inform.kz/eng/article/2669472

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Kashagan accident has being analyzed to minimize emergency in the future – Mr. U.Karabalin

June 17. KAZINFORM. ASTANA

Kashagan accident has being carefully analyzed in order to minimize such situations in the future, said Minister of Oil and Gas Uzakbay Karabalin.

As it was previously reported, members of the North Caspian Consortium and the Government of Kazakhstan signed a memorandum of understanding on Kashagan project’s future development and exploration.

The parties have also agreed to discuss the local content and manufacturing capabilities of the project. The signing ceremony took place on June 11.

North Caspian consortium joins the following participants KMG Kashagan BV, AGIP Caspian Sea BV, CNPC Kazakhstan BV, Exxon Mobil Kazakhstan Inc., INPEX North Caspian Sea Ltd., Shell Kazakhstan Development BV, Total E & P Kazakhstan.

North Caspian Operating Company B.V. (NCOC) is designated Operator of activities under the North Caspian Sea Production Sharing Agreement (NCSPSA) acting on behalf of the North Caspian Consortium.

It bears to remind that Kashagan production started in September 2013 and was suspended weeks later when it was discovered the pipelines were leaking. According to recent statements made by the Government of the Republic of Kazakhstan, Kashagan production could resume before the end of 2015.

http://www.inform.kz/eng/article/2669478

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