Kumkol oil field

Last updated
Kumkol Oil Field
Country Kazakhstan
Region Kyzylorda Province
Offshore/onshore onshore
Operator PetroKazakhstan
Field history
Discovery 2008
Start of development 2008
Start of production 2009
Production
Current production of oil 78,000 barrels per day (~3.9×10^6 t/a)
Estimated oil in place 41 million tonnes
(~ 50×10^6 m3 or 300 MMbbl)

Kumkol Oil Field is an oil field located in Kyzylorda Province. It was discovered in 2008 and developed by PetroKazakhstan. The oil field is operated and owned by PetroKazakhstan. The total proven reserves of the Kumkol oil field are around 300 million barrels (41×106tonnes), and production is centered on 78,000 barrels per day (12,400 m3/d). [1]

PetroKazakhstan is a Canadian oil company, based in Calgary, Alberta, that has all of its business focused on Kazakhstan where it had some 550 million barrels (87,000,000 m3) of oil and 25 billion cubic feet (710,000,000 m3) of natural gas reserves in the Turgai basin region. These are the second largest Kazakhstani proven reserves after ChevronTexaco's TengizChevroil. Estimated production is 165,000 barrels (26,200 m3) of oil per day. In 2005, PetroKazakhstan was acquired by China National Petroleum Corporation and then in 2006 transferred to PetroChina.

Proven reserves

Proven reserves, also called measured reserves, 1P, and reserves, are industry specific terms regarding fossil fuel energy sources. They are defined as a "Quantity of energy sources estimated with reasonable certainty, from the analysis of geologic and engineering data, to be recoverable from well established or known reservoirs with the existing equipment and under the existing operating conditions." A reserve is considered a proven reserve if it is probable that 90% or more of the resource is recoverable while being economically profitable. These terms relate to common fossil fuel reserves such as oil reserves, natural gas reserves, or coal reserves.

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References

  1. "E&P Kazakhstan". rulit.net. 2010. Retrieved 2013-04-28.