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November 24, 2021updated 27 Apr 2022 12:53pm

Karazhanbas Heavy Oil Field, Kazakhstan

By Carmen

Karazhanbas is a producing heavy oil field located onshore Kazakhstan and is operated by Karazhanbasmunay. The field is located in block Karazhanbas.

Field participation details

The field is owned by CITIC Group and National Company KazMunayGas.


Production from Karazhanbas

The Karazhanbas heavy oil field recovered 73.96% of its total recoverable reserves, with peak production in 2019. The peak production was approximately 43.43 thousand bpd of crude oil and condensate and 5 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2046. The field currently accounts for approximately 2% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 107.44 Mmboe, comprised of 101.49 Mmbbl of crude oil & condensate and 35.71 bcf of natural gas reserves. Karazhanbas heavy oil field reserves accounts 0.25% of total remaining reserves of producing heavy oil fields globally.


Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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