PetroChina develops large gas field in Kazakhstan

CNPC will form a joint venture with Kazakhstan's national oil and gas company to jointly explore and develop the Urich gas field in Kazakhstan.　　Yesterday (February 23), CNPC announced that the two sides signed an agreement on cooperation and Development. According to the agreement on the principle of cooperation between the Urich of Kazakhstan, the two sides will set up a joint venture to explore and develop Urich gas field in accordance with the 50:50 interest.　　The Urich gas field will provide gas source protection for the two phase of the pipeline.　　At the end of last year, the China-Kazakhstan natural gas pipeline Phase two project was officially inaugurated in Badai, Kazakhstan, and the first phase of the project was expected to be ready for ventilation by the end of 2012. PetroChina disclosed that the two-phase pipeline will be implemented in phases according to the supply of gas sources.　　The first stage completes the Badai to Chimkent section 1164 kilometers pipeline as well as the Bozoi first station construction task, the annual gas transmission capacity achieves 6 billion cubic meters; the second stage completes the Beyneu Nirvana Utze section 311 kilometer pipeline and the supporting compressor station construction task, the annual gas transmission capacity reaches 10 billion Badai billion cubic meters.　　According to the agreement between the enterprises, Beyneu to Chimkent gas pipeline by the Kazakh natural gas Transport AG and PetroChina Central Gas Pipeline Co., Ltd. formed a joint venture to build operations. Relevant experts in the oil industry believe that Kazakhstan, as a neighbour of our country, has a geopolitical advantage that cannot be replaced by other countries except Russia. From the perspective of diversification of oil sources, Haguo will become a land source to supplement our oil supply.　　Therefore, we should seize the opportunity to participate more in the bidding of Kazakhstan's oil cooperation projects and actively seek new opportunities for cooperation, including acquiring small oil and gas companies, acquiring oil and gas fields and risk exploration blocks from other companies ' transfers, acquiring exploration and exploitation rights through equity participation, etc., and seeking to expand the oil source. Kazakhstan is PetroChina's main oil and gas production base in Central Asia.　　PetroChina's oil and gas production in the country has reached a record 30 million tonnes of oil equivalent last year. CIC's energy industry researcher Zhou Xiujie that the partnership will provide a stable supply of gas to China-Kazakhstan gas pipelines. In addition, in recent years, China can also clearly feel that the domestic gas gap is expanding, so "Twelve-Five" during the period of China's natural gas imports will increase sharply, PetroChina to increase overseas oil and gas investment will also guarantee domestic supply stability.