The Prime Minister of Kazakhstan

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Agreement on the creation of consortium for implementation of the Eurasia project signed in Astana

21 June 2017, 14:02

Transnational companies are merged with the goal of implementing the Eurasia project to develop super-deep hydrocarbon deposits in the Caspian basin. This was announced by the Minister of Energy Kanat Bozumbayev after the signing ceremony of cooperation agreements between the Government of the Republic of Kazakhstan and international companies.

In Ukimet Uyi with the participation of the Prime Minister of the Republic of Kazakhstan B. Sagintayev, signing of agreements between the Government of the Republic of Kazakhstan and international companies on cooperation in the field of energy, including the implementation of the project "Eurasia" took place.

"Today, a historic document has been signed - the beginning of a large project "Eurasia", over which Kazakhstan has been working for the past 5 years, was laid. World companies - Agip Caspian Sea B.V., RN-Exploration, CNPC International Ltd., Socar, KazMunaiGaz-Eurasia LLP, NEOS GeoSolutions, are united in a consortium to study the subsurface of the Caspian depression," the Minister of Energy said.

K.Bozumbayev noted that the Caspian depression is characterized by a complex geological structure and the presence of unique oil and gas fields. Taking into account the fact that part of the Caspian depression lies on the territory of the Russian Federation, the authorized bodies of Kazakhstan and Russia agreed to exchange geological and geophysical information.

As the Minister of Energy noted, the project "Eurasia" was divided into three stages. The first involves a complete interpretation of the available data and the creation of a new database, the second - geophysical studies. If, after the second stage, experts prove the availability of hydrocarbon reserves, the third stage will be devoted to drilling an exploration well, the depth of which will be about 15 km.

"Such superdeep drilling has not yet been carried out in the world. The deepest drilling in Kazakhstan today reaches 5 km. For example, during the Soviet time in the Arctic drilling was carried out at 11-12 km for 20 years. Now we have modern, more powerful equipment, so I think we will achieve good results," K. Bozumbayev said.

The prospects of the project "Eurasia" was told by the deputy chairman of the KAZENERGY Association Uzakbai Karabalin. According to him, the implementation of the project will attract the best practices of world oil and gas producers to the country and will stimulate the development of all sectors of the economy of Kazakhstan.