Successful development of the shelf consists of the union of the state and investors, following the example of Kazakhstan

Naftogaz Exploration and Production Division offers the implementation of "Success Stories" in the development of the Black Sea shelf, by combining the capabilities of the state, national and international investors, following the example of Kazakhstan's experience. This was reported by the press service of the division on the Facebook network.

According to the report, since 1993, the Kazakh state company began conducting seismic research at sea. High formation pressure, great depths of occurrence, significant content of hydrogen sulfide, and an unfavorable combination of shallow water conditions and ice formation created significant risks for the development of these deposits by local companies, notes Naftogaz.

International companies were involved in this project: Eni, BG Group, BP/Statoil, Total, ExxonMobil, Shell. Thanks to their joint work, the Kashagan field was discovered in 2000 - one of the largest fields in the world discovered in the last 40 years, as well as the largest offshore oil field. The total reserves of Kashagan are about 38 billion barrels of oil and more than 1 trillion cubic meters of natural gas.

However, the start of this project in 2005 had to be postponed due to the attempts of one of the partners to resell its share to Chinese companies. Therefore, in order to achieve a result and protect state interests, the national corporation "KazMunayGas" bought this part of the project.

Thus, in 2016, the state, a national company, and international operators, in cooperation, began commercial exploitation of the Kashagan deposit, which, according to analysts' forecasts, allows Kazakhstan to enter the top five global producers of hydrocarbons.