Karakudukmunai CJSC in 2002 produced more than 339 th. tons of oil

/Kazakhstan today, February 11, 03/ - Karakudukmunai CJSC in 2002 produced 339.187 th. tons of oil that is more by 10.9% than in 2001. About it a correspondent of KZ-today was informed in the press-service of Karakudukmunai CJSC. According to the information of Karakudukmunai CJSC, it was possible to achieve it due to optimization of mode of the work, acting well stock and introduction mechanized way of production. In particular, while developing the field Karakuduk shift of low-flow rate well to production using screw well pumps was very effective. As was informed in Karakudukmunai CJSC, till the end of 2003 it is planned to drill more than 15 exploitation wells at the field. Besides, there will be drilled pressure wells, some of which will also be shifted to the class of exploitation ones. There will be set in operation the complex system of seam pressure support. Total number of exploitation and pressure wells, which are to have been be drilled before ending of the license for exploration and production of oil at Karakuduk field is 70. As was informed before, license of Karakudukmunai for mastering of Karakuduk field had been given to the company for 25 years. Area of Karakuduk field is 68.4 square kilometers. Contract, which gives Karakudukmunai the right for development of the field, was made with the Government of Kazakhstan in August of 1995. In 1996 there were started works at the field, which is geographically situated 365 km to the north- east from the oblast's center - Aktau city, at Ustyurt plateau. New geological data, which was received as the result of drilling, analysis of the results of seismic exploration of one of wells showed that geological section of Karakuduk field has new, unknown before productive horizons and that's why at present works on making more precise and protection of new hydrocarbon raw stuff reserves are being fulfilled. Karakudukmunai and its new investor American Chaparral Resources, Inc. have invested already more than $60 m into development of Karakudukmunai field. More than $200m will be invested for full development and exploitation of the field during following 20 years. During the contracted period volume of funds, which Kazakhstan received from the field development as taxes and royalty, will exceed $400 m. [2003-02-11]