Buzachi Operating JV Reaches 5 Million-ton Milestone

Buzachi Operating, LUKOIL Overseas and Mittal Investments (India), has produced a 5-millionth ton of oil from the start of development of the North Buzachi field in the Mangistau Region of the Republic of Kazakhstan.

The North Buzachi field is located 250 km to the north from Aktau regional center. The field was discovered in 1975, the development license was issued in 1997, while the commercial operation started in 1999. LUKOIL Overseas has entered the project in 2005 during the acquisition of Nelson Resources Ltd. assets.

In 2006, the field production totaled 1.34 million tons (the share of LUKOIL is 668 thousand tons), 113 new wells were drilled, and the construction of oil treatment facility and export pipeline to the oil-transporting system of KazTransOil was completed. The operating company employs over 500 experts, of whom 95% are the citizens of Kazakhstan.