Milestones of Karachaganak Field Development

1979 - Discovery of the Karachaganak field.

1984 - First facility for gas treatment (now Unit 3) completed. Production of gas commenced.

1992 - Kazakhstan Government starts negotiating a Production Sharing Agreement with BG Group and Eni.

1995 - Production Sharing Principles Agreement signed.

1997 - Chevron and LUKOIL join the Venture; a 40 year Final Production Sharing Agreement (FPSA) signed in November.

1998 - FPSA becomes effective.

1999 - Construction work commences.

2000 - Main Works Contract awarded and KPO Senior Management Team moves to Aksai.

2001 - 28 kilometre rail link from Aksai to the Karachaganak field is completed; President of the Republic of Kazakhstan Nursultan Nazarbayev opens a new power station at the Karachaganak Processing Complex (KPC).

2002 - 635 kilometre export pipeline linking to the Caspian Pipeline Consortium (CPC) line completed.

2003 - The President of Kazakhstan inaugurates ‘First Oil’ of Phase II.

2004 - First shipment of crude oil from Novorossiysk sea terminal via Caspian Pipeline Consortium.

2005 - Fourth power generator brought on stream at the KPC.

2006 - 100th million barrel of crude oil lifted from the CPC terminal; first oil delivery via the Samara Pipeline.

2007 - Gas Sales Agreement signed between KPO and KazRosGas.

2009 - Production record of 139.5 Million barrels of oil equivalent achieved.

2011 - Start-up of the Fourth Stabilization Train at KPC.

2012 - KazMunaiGas officially enters the Karachaganak Joint Venture.