In December 2014 drilling of the first evaluation well started on the H project in the Kazakhstan sector of the Caspian Sea, press office of KazMunaiGas national company told Trend.
“In December 2014 drilling of the first evaluation well started on the Rakushechnoye-More structure 1600 meters deep,” said the press office.
Bloc H is among the perspective projects of KazMunaiGas in the Kazakhstan sector of the Caspian Sea. The contract for use of bowels of earth has been concluded within the H project.
The company also reported that contracts have been also concluded on such projects as Zhemchuzhina, Zhambyl and Satpayev.
“The geological exploration works continue on the above-mentioned projects. Preparatory works have been done to drill evaluation wells on the Satpayev project, exploration wells has been drilled on Zhetysu structure in Zhambyl project and oil and gas content of the target objects has been also confirmed,” a source from the company said.
Bloc H is located 30 km southwest of Aktau city in the Caspian Sea. The area of the bloc is about 8100 sq.km. The project will be operated by the LLC, which will be established in Kazakhstan and will be owned by all partners of the project proportionally to their shares in the contract on the use of bowels of earth.
Earlier 51% share in the contract for use of bowels of earth was owned by KazMunaiGas and 49% by ConocoPhillips and Mubadala companies equally. On January 25, 2013 KazMunaiGas has concluded the deal to buy 100% shares of the H Bloc B.V. company from ConocoPhillips company for $32.5 million.
As a result of the deal KMG has become owner of 75.5% rights of use of bowels of earth in H project and 75.5% share in H Operating Company.
According to the contract on use of bowels of earth on H project, its partners include KMG (75.5%), and Oil & Gas H Bloc Kazakhstan GmbH – (24.5%).
