The company KazMunaiGas (KMG) has commenced production at the oil and gas Aksai deposit, located in the Kyzyl-Orda region. It belongs to the joint venture of KMG EP-JV Kazgermunai (KGM).
"Commissioning the Aksai deposit will allow Kazgermunai to stabilize oil production at current levels. In addition, the extra gas volumes will allow the company to continue consistent fulfillment of their obligations to supply the city of Kyzylorda with blue fuel," the CEO of KMG EP Abat Nurseitov said at the opening ceremony
The Aksai deposit contains 1.5 million tons of crude oil, and 1626 million cubic meters of gas. In 2015 the deposit is expected to produce 114.5 thousand tons of oil and 70 million cubic meters of gas, Trend reports.
So far 9.6 billion tenge (about US $ 53 million) has been invested in the project "Construction of the Aksai Deposit", and additional investment is planned in the future.
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