Kazakhstan Plans to Sink 80 Exploration Wells Amidst Investment Surge

ASTANA — Kazakhstan is set to sink 80 exploration wells across various sites this year, said Vice Minister of Energy Askhat Khasenov on April 25 to Kazinform news agency. 

Oil drilling and pipelines. Photo credit: Gary Kavanagh / Getty Images

This initiative aims to counteract the annual decline in oil production, particularly in the Kyzylorda Region. 

According to Khasenov, the drilling operations will commence this year at the Turgai-Paleozoic site, with depths reaching 5,500 meters. This dive is aimed at uncovering promising structures for oil and gas extraction. 

Additionally, attention will be directed towards drilling an exploratory well at the Abai offshore structure, located in the Kazakh sector of the Caspian Sea.

Khasenov highlighted the substantial increase in investments compared to previous years. In 2023, exploration investment increased from 135.7 billion tenge (US$305.3 million) to 152.4 billion tenge ($345 million), marking a 12% uptick from the preceding year. 

“In general, investments in exploration are expected to reach 200 billion tenge ($453 million) annually,” said Khasenov.

Furthermore, the planning processes for drilling activities at several sites across the country are underway. This includes deep well drilling projects at sites such as Karaton Podsolevoy, 5,500 meters, the Adai block, 6,900 meters, the Maksat structure, 6,200 meters, the Sai-Utes site, 5,250 meters, and Block A, 6,900 meters. 

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