More Than 60 Fields In Kazakhstan To Be Put Up To Auction In 2017

Dutch Court Upholds $5.2 Billion Asset Freeze On Kazakhstan Oil Field

Astana. November 1. KazTAG – More than 60 fields are planned to be put up to auction next year, said Kanat Bozumbayev, Minister of Energy.

“It is planned to put up more than 60 mineral fields to auction in 2017,” he said at the session of the Government.

Now the Ministry is performing a number of measures targeted on investors’ attraction in the geological prospecting field of Kazakhstan.

“We have initiated “Eurasia” project, we plan geological prospecting works with further drilling of ultra-deep wells to learn deep horizons of the Caspian Sea. Up to 40 bn tons of hydrocarbons are centered there. We are negotiating with potential investors now,” he said.

He said now the geological-physical data are being analyzed in order to estimate the potentials of oil and gas reserves of the deep horizons of the Caspian Sea, including the territory of Kazakhstani sector of the Caspian Sea.

“By the results of the analysis we will reveal the perspective sites and create a portfolio of exploration blocks. We have intensified performance of the naval projects. The Ministry is considering joint development of the licensed fields of the mid Caspian Sea, Kalamkas-sea and Khazir. We are negotiating with Russia joint development of Central, Khvalynski and Kurmangazy fields,” he said.