Karazhanbas North Oil Field Development
- ProB2B.KZ
- Feb 21
- 2 min read
Project Name: Karazhanbas North Oil Field Development
Project Description: The Karazhanbas North Oil Field, located in the Mangystau region of Kazakhstan, is a conventional onshore oil field. The field has been developed to extract hydrocarbons, with reserves estimated at approximately 39.5 million barrels of oil. The development includes drilling operations, infrastructure setup, and implementation of extraction technologies to optimize oil production.
Current Status: As of October 2023, the field was under the operation of Phystech II AO. In October 2023, Phystech II's shareholders decided to transfer 100% of the company's voting shares, valued at approximately 35.417 billion tenge (about $72 million), to the state as a gift. This transfer effectively returned the Karazhanbas North Oil Field to state ownership.
Start Date: The field was discovered in 1984, and production activities commenced subsequently.
End Date: Production is projected to continue until the field reaches its economic limit, estimated around 2053
Investment Volume (in thousands USD): The estimated value of the company operating the field was approximately $72 million as of October 2023.
Location: Karazhanbas North Oil Field, Mangystau Region, Kazakhstan
Investor / Customer: Originally operated by Phystech II AO, the field was transferred to state ownership in October 2023.
Company Details:
Address: Republic of Kazakhstan, 130000, Aktau, 9 "a" microdistrict, building 4, "Yeles" Business Center
Phone: +7 (7292) 47 32 22
Email: kbm@kbm.kz
Website: www.kbm.kz
Key People and Contact Details:
Name: Nurpiyis Mizambayuly Sarsenbay
Position: General Director
Phone: Not publicly available
Email: Not publicly available
Website: Not publicly available
General Contractor: Information not publicly available
Engineering Contractor: Information not publicly available
Other Important Details:
The Karazhanbas North Oil Field is part of the larger Karazhanbas oil field complex, which was discovered in 1974.
The field's development has included the implementation of thermal methods to enhance oil recovery, given the heavy and viscous nature of the crude oil.
The transfer of the field to state ownership in October 2023 was part of a broader move by the shareholder, Phystech II AO, to return assets to the state.
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