Final investment decision for Kalamkas Sea-Khazar project offshore Kazakhstan planned in 2025 - ministerCompletion of front-end engineering design (FEED) and the adoption of the final investment decision for the Kalamkas-Sea - Khazar project in the Kazakh sector of the Caspian Sea are expected this year, Kazakh Energy Minister Almassadam Satkaliyev said."Work on the Kalamkas-Sea - Khazar project is ongoing. Plans for 2025 include completing the FEED design, holding EPC tenders and adopt the final investment decision on the project," Satkaliyev said at a meeting of Energy Ministry officials in Astana.He said oil production should peak at 4 million tonnes and project costs would be $6.6 billion.The fields are located in the Kazakh sector of the Caspian Sea. The depth of productive horizons is at the level of 1,500 m-2,000 m below the seabed. The first oil is expected at the end of 2029. Total recoverable reserves are estimated at 48.5 million tonnes of oil and 19 billion cubic meters of gas. Anticipated production is about 4 million tonnes per year (80,000 barrels per day). The production plateau is at least five year. Participants in the Kalamkas-Sea-Khazar project are KazMunayGas (50%) and Russia's Lukoil (50%). (ICE ALMATY)

Fonte notizia: INTERFAX