Karachaganak Petroleum Operating B.V. (KPO) is set to launch a new expansion phase at one of the world’s largest gas condensate fields. The operator has announced plans to drill a high-tech directional production well, designated as 98105 (PG_02), specifically aimed at boosting oil extraction, Kursiv.kz reports.
Project Timeline and Specifications
According to planning documents obtained by Kursiv, the directional drilling project follows a strict schedule:
- Commencement: September 26, 2027.
- Completion of Drilling: December 17, 2027.
- Commissioning: December 31, 2027.
- Operational Lifespan: Through the end of 2037.
The project will utilize a 3.5-hectare plot of land for drilling operations. The construction process will require significant industrial resources, including approximately 587 tons of diesel fuel and 577 tons of cement.
Shareholder Structure and Strategic Context
This new development comes on the heels of a major international arbitration dispute between the consortium shareholders and the Kazakh government. Experts view the outcome positively for the state, with Kazakhstan potentially receiving between $2 billion and $4 billion in settlements.
Current KPO Shareholding:
- Eni & Shell: 29.25% each
- Chevron: 18%
- LUKOIL: 13.5%
- KazMunayGas: 10%
Industry Significance
The Karachaganak field remains a cornerstone of Kazakhstan's energy sector, with over $29.8 billion invested since the signing of the Final Production Sharing Agreement (FPSA) in 1997. The new well is part of a broader strategy to maintain liquid hydrocarbon production levels until the current agreement expires in 2037.
CentralasianLIGHT.org
February 5, 2026