“There are reasons to believe that in the future, the Caspian Depression will become the world’s largest center for oil and gas production,” spokesperson for the Kazakhstan Ministry of Energy told Trend.
Based on this Kazakhstan plans to develop and implement a comprehensive state target program of geological studies of deep subsurface and hydrocarbon resources of the Caspian Depression in the next three to five years, according to the ministry.
The ministry said the work will be conducted within the framework of implementation of the project “Eurasia” and executed by the newly created International Consortium from the known oil companies interested in the implementation of the program.
Preliminary work within the framework of the project “Eurasia” will include reprocessing of geological and geophysical material of the past and conduct of large-scale geophysical investigations with the construction of the new two-level regional profiles. The location will be determined on results of the conducted geophysical studies and drilling of an ultradeep parametric well with depth of presumably 14-15 km in the central zone of the Caspian Depression.
In order to coordinate the work on the Eurasia project, an interagency working group was created on November 13, 2013 consisting of representatives of interested ministries and agencies.
Currently, together with the interested state bodies, the issue of fiscal and non-fiscal benefits and preferences for the participants of the Eurasia project is being studied together with interested state bodies in Kazakhstan, said the ministry.
These benefits and preferences allow achievement of acceptable standard of profitability from the subsequent implementation of the subsoil use projects, the ministry added.
Geographically, the Caspian Sea depression is located on the territories of Kazakhstan and Russia and in this regard, it is planned to implement the Eurasia project in close bilateral cooperation.
The ministry said that the development of new methods and technologies of regional seismic work in conjunction with other advanced methods of geophysics, as well as ultra deep drilling suggest the use of the scientific potential of both Kazakh and Russian scientists.
Breakthrough scientific research results of universities, new composite materials, elements of space technologies, as well as the potential of the military and industrial complex will be used, according to the ministry.
Moreover, the ministry said that Kazakhstan has successful experience in carrying out large-scale work on the Caspian Sea shelf. Kazakhstancaspishelf Consortium was created in 1993 to carry out geological exploration on the Caspian Sea shelf.
