The Caspian Oil & Gas Company project, which is a joint venture of KazMunaiGas (KMG) and LUKoil for operation of the oil and gas condensate field Khvalynsk on the north shelf of the Caspian Sea, will be implemented in Kalmykia.
Caspian Oil & Gas Company project envisages transportation and refining of 8.2 billion cub.m. of gas a year.
The company will build its own infrastructure for gas reception and gas refining plant for production of granulated sulfur in Kalmykia.
“Construction of three oil pumping stations of the Caspian Pipeline Consortium (CPC) is coming to completion, which will increase carrying capacity of the pipeline through the territory of the republic up to 67 million tons a year,” said Kalmyukia Minister of Natural Resources and Environment Protection Nikolai Ochirov.
He said at present Kalmykia has 15 enterprises using bowels of earth in Kalmykia. Last year they extracted over 160,000 tons of oil and almost 50 million cub.m. of gas. During 6 months, 2014 they extracted 68,400 tons of oil, which is equal to last year.
