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MOL and its partners start gas production in Kazakhstan

Budapest-based international oil and gas company MOL announced the start of production at a gas field in Kazakhstan with its Kazakh and Chinese partners.

MOL, as part of the international joint venture Ural Oil and Gas LLP, has started gas production in Kazakhstan from the U-21 well located in the Rozhkovskoye field. The targeted reservoir is estimated to contain 158.8 million barrels of oil equivalent, with 101.5 million barrels of gas and 57.3 million barrels of condensate. Of the nine wells drilled during the exploration and delineation phase, five were successfully brought into production in 2021. The planning, procurement, and execution contract, covering all elements of surface infrastructure, was signed in April 2022, informed MOL.

“This is a long-awaited success for MOL in the Caspian Sea region. I am delighted that our stake in the project in Kazakhstan has contributed to our diverse international production portfolio, offering further potential for MOL Exploration and Production,” said Zsombor Marton, CEO of MOL Group Exploration and Production.

The first well will start with a gas production rate of 300,000 cubic meters per day, which will be transported to the Chinarevskoye gas processing facility. MOL expects that during the pilot phase, with one well in production, the Rozhkovskoye field is expected to contribute 1,300 barrels of oil equivalent per day to group-level production. Four additional wells are planned to start production in the third quarter of 2024, potentially increasing the field’s production to 1.5 million cubic meters of gas per day. In parallel with the completion of Phase 1, the project is moving ahead to ensure timely delivery of planned Phase 2, MOL said, which includes additional completions, drilling new wells, and expanding infrastructure to handle 2.5 million cubic meters per day of gas by the end of 2027.

MOL emphasised that the successful production launch is the result of close cooperation between Hungarian, Kazakh, and Chinese partners. The Rozhkovskoye gas and condensate project is operated by Ural Oil and Gas LLC, a joint venture owned by the Kazakhstani KazMunayGas (50 per cent), Hungary’s MOL Group (27.5 per cent), and China’s FIOC (22.5 per cent).

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