KMG's Head Holds Meeting on Karazhanbasmunai Development

During a working trip to the Mangistau region, Chairman of the Management Board of KazMunayGas NC JSC Askhat Khassenov visited Karazhanbasmunai JSC (KBM), where he held a meeting on the further development of the enterprise.

The main focus was on the current production indicators, replenishment of the resource base, implementation of the strategic projects, digital transformation and social matters.

One of the key resource base replenishment projects of KBM is the development of the Coastal Zone. To date, 8 appraisal and 12 production wells have been drilled at the site. The project implementation will increase geological reserves to 12 MMt, and recoverable reserves to 3 MMt.

Special attention was paid to improving the efficiency of field development, taking into account the high viscosity of the oil. The issues of further development of the Eastern section, where thermally enhanced oil recovery is being implemented, including huff-and-puff, and measures to optimize production costs and enhance oil recovery, were also considered.

Digital transformation was also reviewed among the priority areas. KBM continues to implement digital solutions for automating fleet management and monitoring high-risk operations. The ABAI information system is being developed using artificial intelligence algorithms to optimize production, improve the accuracy of engineering calculations, and support operational decision-making.

During the meeting, issues related to the implementation of long-term production projects, interaction with contractors, and improving the employees' social and living conditions were also discussed.

Following the meeting, Askhat Khassenov instructed to ensure the further development of the Coastal Zone, continue efforts to expand the resource base, implement state-of-art technologies and digital solutions, maintain a stable production level, and enhance the efficiency of production processes.