The launch ceremony of the 4th gas injection compressor was held at the Karachaganak field. Completing the project that cost more than half a billion dollars timed to coincide with the 30th anniversary of the Independence of Kazakhstan.

The ceremony was attended by the akim of the Western-Kazakhstan region Gali Iskaliyev,leaders of Karachaganak Petroleum Operating B.V. and representatives of the project partners - ENI, Royal Dutch Shell, Chevron, LUKOIL, KazMunayGas, and Samruk-Kazyna.

Almassadam Satkaliyev, Chief Executive Officer of Samruk Kazyna, stressed the strategic significance of the Karachaganak field for the economic development of Kazakhstan. «During the project's work, the country’s budget received $39.4 billion in a share of profit oil, taxes,and social payments. Beyond profits, the project delivered significant socio-economic benefits, including employment opportunities, enhanced local capacity, skills transfer, and associated infrastructure development», - commented Almassadam Satkaliyev. 

Implementing the 4th compressor project will ensure an increase in gas re-injection volumes toin the production level. According to the specialists' calculations, the fourth compressor's work will increase the production of hydrocarbons up to 7 million tons by 2038.

The Karachaganak field is one of the world’s largest gas and condensate fields. Located in north-west Kazakhstan and covering an area of over 280 square kilometres, it holds estkilometersrocarbons initially in place (HIIP) of 9 billion barrels of condensate and 48 trillion cubic feet (tcf) of gas, with estimated gross reserves of over 2.4 billion barrels of condensate and 16 tcf of gas.

Currently, five oil and gas producing companies are partners in the project: ENI (29.25%), Royal Dutch Shell (29.25%), Chevron (18%), LUKOIL (13.5%), and KazMunayGas (10 %). The authorized body of Kazakhstan in projects under production-sharing agreements is PSA LLP.