The KPO consortium will deliver, from 2012, about 16 billion cubic metres of raw gas to the Orenburg plant, in Russia
The Karachaganak Petroleum Operating BV consortium (KPO) and KazRosGaz, a joint venture composed of KazMunaiGaz and Gazprom, have signed a Gas Sale Agreement in Moscow.
According to the terms of the Agreement, which is subject to approvals, the KPO consortium will deliver, from 2012, about 16 billion cubic metres of raw gas to the Orenburg plant, in Russia, where it will be refined. The Gas Sale Agreement represents a further step towards the development of the Karachaganak field, creating the conditions for the start-up of Phase 3 of the project, which will deliver reserves in excess of 2 billion barrels of oil equivalent (BOE) of new oil and gas.
Karachaganak, located in north-west Kazakhstan, is one of the largest oil and gas condensate fields in the world, with reserves of over 5 billion barrels of oil equivalent. The Karachaganak Petroleum Operating BV (KPO) consortium is composed by Eni (co-operator, 32.5%), BG Group (co-operator, 32.5%), ChevronTexaco (20%) and Lukoil (15%) and is currently producing 385,000 BOE per day.