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"Imashevskoe" gas deposit project

By the joint decision of "NC" KazMunayGas" JSC and "Gazprom" OJSC, being the authorized organizations under the Agreement between the Government of the Republic of Kazakhstan and the Government of the Russian Federation on joint activity on geological studying and exploration of trans-boundary gas-condensate field Imashev, being concluded on September, 7th, 2010 in Ust-Kamenogorsk (further the Agreement), since April, 27th of the current year "KazRosGas" LLP is defined as unified operator on Agreement realization.

The Agreement provides carrying out of geological studying and exploration of the Imashev field with estimation of raw hydrocarbons reserves and a technical and economic assessment of the field development, on the terms of expenses equal financing between the authorized organizations of the parties ("NC" KazMunayGaz" JSC and "Gazprom" OJSC). Works performance under the given project is planned according to the program of geological studying and the exploration of the Imashev field, accepted by the authorized organizations under the Agreement and after receipt of all necessary documents on functioning as unified operator.

In the long term, development of "Imashev" field will allow "KazRosGas" LLP to increase resource base of Kazakhstan gas and volumes of its processing on processing capacities of "Gazprom" OJSC, will allow to deliver necessary volumes of dry gas on home market of the RK and to increase volumes of Kazakhstan gas for export. The project will give the chance to carry out diversification of market outlets and new joint projects with "Gazprom" OJSC on transportation, processing and realization of gas and products of its processing. Realization of the intergovernmental Agreement of Kazakhstan and Russia on joint activity on geological studying and exploration of trans-boundary gas-condensate Imashev field will promote development of bilateral cooperation between Kazakhstan and Russia in oil and gas branch, growth of economic potential and social welfare of the people of our countries.

The decision on development of gas-condensate Imashev field will be accepted after carrying out of necessary prospecting works, an estimation of raw hydrocarbons reserves and by results of definition of geotectonic structure.

At a rough guess the recoverable reserves of Imashev field are estimated more than 128 billion cubic meters of gas and 20 million tons of gas condensate.

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