Kalamkas More-Khazar Report

Asset Report 24 June 2024

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Report summary

LUKOIL and state-owned NC KazMunaiGas (NC KMG) operate the Kalamkas More-Khazar oil development in the shallow waters of Kazakhstan's Caspian Sea sector. This is the country's main pre-FID greenfield project. The partners signed a new contract in 2023 for the neighbouring Kalamkas More, Khazar and Auezov fields. FID for the Kalamkas More-Khazar joint development is targeted for the mid-2020s to enable production to begin by the end of the decade. Based on operator guidance, we ...

Key facts
Summary and key issues
- Summary
- Key issues
Location maps
Participation
- Current participation
  - Licence
  - Operator
- Previous participation (pre-2019)
  - 2019 relinquishment
  - Kalamkas More
  - Pearls fields
Geology
- Overview
- Reservoir quality
  - Kalamkas More
  - Khazar and Auezov
- Oil quality
  - Kalamkas More
  - Khazar and Auezov
Exploration
- Future exploration and appraisal (E&A) activity
- Previous E&A activity (to 2019 relinquishment)
  - Kalamkas More
  - Khazar and Auezov (Pearls block)
Reserves and resources
- Overview
  - Modelling
  - PRMS classifications
- Kalamkas More
- Khazar and Auezov
  - Oil
  - Gas
Production
- Oil
  - Current plan
  - Previous concept
- Gas
  - Kalamkas More
  - Khazar
Development
- Kalamkas More-Khazar joint development
  - Overview
  - Key development metrics
  - Key dates
Infrastructure
- Initial tie-ins
  - Oil
  - Gas
  - Water
- Sales routes
  - Oil
  - Gas
Costs
- Historical E&A costs
  - Pearls block (Khazar and Auezov, pre-2019)
- Capital costs
  - Reported data
  - Modelling
- Operating costs
  - Field costs
  - Abandonment fund payments
  - Transportation costs
Fiscal and regulatory
- Current licence (concession)
  - Alternative Subsoil Tax (AST)
  - Oil Export Customs Duty (ECD)
  - Corporate Income Tax (CIT)
  - Bonuses
  - Social investment programme
- Previous licences (PSCs)
  - Kalamkas More
  - Khazar and Auezov (Pearls block)
2 more item(s)...