A potentially huge new deposit of oil and natural gas has been discovered

A geological structure has been identified in Kazakhstan that may contain billions of tons of hydrocarbons. Representatives of the oil sector note that the potential of the deposit is compared to the Kashagan oil field, one of the country's largest energy projects, the Kazinform news agency reported.

The state-owned company KazMunayGaz announced the discovery of a potential deposit in western Kazakhstan, in the Atyrau Oblast. According to preliminary estimates, it may contain up to 4.7 billion tons of oil and gas. As stated, the structure is the so-called carbonatite massif and in terms of geological structure it resembles the Kashagan deposit, one of the largest oil discoveries of recent decades in the world. During exploration work, a high-pressure gas flow was obtained, which confirms the presence of hydrocarbon resources.

However, representatives of the energy sector emphasize that the project is at an early stage and requires further drilling and analyzes to confirm the amount of resources that can be extracted. Deposits of this type, although potentially very rich, are among the most technologically demanding and expensive to exploit.

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The Kashagan field, to which the new structure is being compared, contains huge reserves of crude oil and natural gas, but its development took many years and was associated with numerous technical difficulties, including high pressure and the presence of toxic sulfur compounds. Production in this field started with a delay, and the project costs increased significantly compared to the original assumptions.

Kazakhstan has been cooperating with international oil companies in the exploitation of Kashagan for years, but these relations are not free from tensions. The country's authorities are conducting legal disputes with foreign partners regarding, among others, project costs and profit sharing. These cases are based on international arbitration.

The possible confirmation of large resources in the new structure could strengthen Kazakhstan's position as one of the key producers of energy raw materials not only in the Central Asian region. Experts emphasize, however, that up to a dozen or so years may pass from the stage of discovery to the start of extraction in the case of such deposits. According to industry analyses, including: Global Energy Monitor, the time from the discovery of a deposit to the start of mining is currently on average about 15 years.

Kazakhstan, located in Central Asia (although 12 percent of the country's territory is geographically in Europe), is one of the key countries rich in hydrocarbons, having approximately 30 billion barrels of confirmed oil reserves, which is approximately 1.7 percent. world resources and places the country in the second ten largest oil owners in the world. The country also has significant natural gas resources. It is also the world's largest producer of uranium and mines, among others, carbon, copper and zinc. (PAP)

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