More than $200 m. are expected to be invested to the development of the oil field Karakudyk in Mangistau Region of Kazakhstan, Trend Special Correspondent to Kazakhstan reports referring to local TV Channel Khabar.
The oil field is located 365 km north-east to Aktau City. About 12 new wells are expected to be drilled on this field till the end of 2008 that will trigger a sensitive increase in Kazakhstan's oil production.
At present, the existing production fund of the oil fields totally consists of 59 wells. In addition, a project on construction of the central point where oil will be separated is also under development. The facility will be used for gas gathering and utilization as well.
Over 4 m. Barrels of oil are expected to be produced on the field Karakudyk till the end of the year, on 17 per cent more versus the corresponding period of the last year. The total oil reserves of the field are estimated at 30 m. barrels of oil.