The Ministry of Energy of Kazakhstan, the Plenipotentiary Body (PSA), and the companies participating in the Northern Caspian Production Sharing Agreement (NCPSA) as shareholders, signed an agreement on the provision of the Development Plan for the Kalamkas-Sea field located in the NCPSA license area.
The agreement provides for the companies to submit the Development Plan for approval by the Steering Committee on the NCPSA until the fourth quarter of 2019.
The signing of the Agreement opens up new opportunities for increasing investments in the development of offshore fields in the Kazakhstan sector of the Caspian Sea.
As previously announced by the Operator (NCOC), preliminary design work continues according to the chosen concept, i.e. joint development of the Kalamkas-Sea field and the nearby Khazar field (PSA for the Zhemchuzhina block).
The geological reserves of the Kalamkas-Sea field are confined to the Middle Jurassic deposits and amount to 149.5 million tonnes of oil, 15.4 billion cubic metres of dissolved gas and 15.36 billion cubic metres of dry gas.
Companies that are shareholders in the NCPSA are Agip Caspian Sea BV (16.81%), CNPC Kazakhstan BV (8.33%), ExxonMobil Kazakhstan Inc. (16.81%) , Inpex North Caspian Sea Ltd (7.563%), KMG Kashagan BV (16.88%), Shell Kazakhstan Development BV (16.81%) and Total E&P Kazakhstan (16.81%).
The North Caspian project is operated by North Caspian Operating Company.
Reported by Komsomolskaya Pravda Kazakhstan.