Located in the west of the country, Atyrau is well-known throughout the world as the energy capital of Kazakhstan. Many major oil and gas companies are concentrated in the region, both domestic companies and well-known operators and manufacturers from around the world. The production of oil and gas in Atyrau accounts for 40% and 60%, respectively, of the country’s total production.
Central Point Energy´s project is located near the Tengiz Field, and it was the first block (Three licenses in total) acquired by the company and put into production in 2006. This is also the largest licensed site, totaling 242 km2 (98km2, 75km2 and 69km2). The total combined proved plus probable (“2P”) reserves for the Atyrau Project block is 108,6 million barrels of oil equivalent (“mmboe”) and more than 84,3 billions of cubic meters of gas.
This is Central Point Energy´s main asset and top producing project, with an average output of 65,822 boe/d. Implementation of new equipment, along with successful geological surveys and drilling allowed the estimated values to be increased to the level of the company's 2018 production target. In 2016 and 2017 the company drilled 12 exploration wells and to cover 130 sq. km of 3D and 85 km of 2D seismic surveys. With further legal acquisitions planned for late 2017 and early 2018 this is an exploration site surrounded by curiousity & excitement.
In 2011, Kazakhstan celebrated 20 years of independence and the major role played by the energy sector in the country’s development. Due to its strong economic performance Kazakhstan has become the first former Soviet republic to repay its debt in full to the International Monetary Fund in 2000, 7 years ahead of schedule.
The Republic of Kazakhstan is a large landlocked country in Northern and Central Eurasia. Its territory is over 2,7 million km2 and is bigger than that of entire Western Europe. The country has enjoyed a steady growth of its GDP for the last eight years with year-on-year increases of over 7%.
Kazakhstan has about 8 billion tonnes of proven recoverable oil reserves. Industry analysts believe that planned expansion of oil production, together with the development of new fields, will enable the country to produce as much as 2 million barrels per day by 2015 taking the country into the world´s top 10 oil producers.The Atyrau province holds claim to the most significant amount of oil fields, in which more than 75 fields have commercial reserves of 1,3 billion tonnes.