From 1995 to 2014 the coefficient of oil extractability in Kazakhstan reduced from 42% to 29%, Deputy Energy Minister Magzum Mirzagaliyev said at the annual Caspian Technical Conference and Exhibition SPE.
“For several years we have had significant differences in average coefficient of oil production between Kazakhstan and other world countries. Since 1995 till now the coefficient in the republic reduced from 42% to 29%. There are, certainly, objective reasons related to the peculiarities of the fields. But on the other hand, his is a common trend in the world,” he added.
Mirzagaliyev said that the fields located on the Near East have the coefficient of 70%. The average of coefficient on the Iraqi fields, where the military activities have been going on for about 40 years, is 60%, 45% in UK and Venezuela and 40% in Russia.
“The growth of coefficient by 1% will give us approximately 150 million tons of oil, which is comparable to discovery of a big field. On the other hand, the coefficient is the showing of the technological condition of the field. We need complex approaches,” added Deputy Minister.
