ALMATY – Kazakhstan’s national oil and gas company KazMunayGas (KMG) is advancing exploration of a major hydrocarbon prospect on the Zhylyoi carbonate platform, with potential resources comparable to the giant Kashagan oil field. Kashagan field. Photo credit: KMG Kashagan BV.
Click to see the map in full size. The map is designed by The Astana Times. The project, still at an early stage, could hold up to 20 billion tons of oil equivalent, according to preliminary estimates, reported the Kazinform news agency on April 16. KMG said the project is now in the phase of regional geological and geophysical studies, with preparations underway for seismic surveys.
So far, historical geophysical data has been reanalyzed, allowing specialists to identify a promising zone for further exploration. However, the company stressed that these figures are based on forecast resources and require confirmation through additional studies.
The initial work program, including seismic surveys and the drilling of a deep exploratory well, is expected to continue until 2030. “Based on the results, decisions will be made on further exploration,” KMG said in a statement. Given the technical complexity of the project and significant depths, officials say it is too early to discuss potential timelines for commercial production.
The total investment required for the project has not yet been finalized. KMG said costs will become clearer after the planning phase of seismic work is completed, including determining the drilling location and well design. At this stage, the company plans to finance initial seismic exploration from its own funds but does not rule out attracting strategic partners.
According to KMG, large international energy companies have shown interest in Kazakhstan’s exploration projects, including the Zhylyoi platform. The discovery of a carbonate formation with potential comparable to Kashagan has heightened expectations, although the project remains at a preliminary stage.