Russia, Kazkahstan in Caspian field discussions

Gazprom and KazMunaiGaz National Co. have held talks concerning a potential joint development of the Tsentralnoye field in the Russian/Kazakh sectors of the Caspian Sea.

Offshore staff

MOSCOW – Gazprom and KazMunaiGaz National Co. have held talks concerning a potential joint development of the Tsentralnoye field in the Russian/Kazakh sectors of the Caspian Sea.

Work on exploring hydrocarbon resources of the Tsentralnaya structure started in 2003. A first well was completed at a depth of 4,227 m (13,868 ft), and a large oil, gas and condensate field was discovered in 2008.

Late that year, TsentrCaspneftegaz performed a 3D seismic survey.

Tsentralnoye has estimated C1 and C2 reserves of 20.2 and 149MMt of fuel equivalent, respectively.

To implement the project, the Russian side appointed TsentrCaspneftegaz (established by Lukoil and Gazprom on a parity basis) as an authorized company with a 50% stake, while the Kazakh side appointed NK KazMunaiGaz.

Gazprom’s share in the project is 25%.

11/21/2011

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