By 2022, KMG is going to increase oil reserves by 1.7 times to 1.4 billion tons
Edited by Rhod Mackenzie / 2013-10-02 02:22:04
By 2022, KMG is going to increase the volume of itts proven oil and gas condensate reserves by 1.7 times from 823 million tons to 1.4 billion tons, the Vice CEO of the company, K. Iskaziyev says. They are going to beat the target because of additional oil exploration at larger depths than they used to explore before. For example, KMG is going to drill exploration wells with depth of up to 5.5-8 km at the deposits of Uzen and Karamandybas, compared to 2 km before. A large hydrocarbons concentration is epected at the Trias and probably the Paleozoic beds.