“What is the situation in Kazakhstan at the beginning of 2024? At the Uzen field, the actual recovery factor is 0.32, that is, only a third of the oil is extracted, at the Tengiz field today the actual recovery factor is only 0.15, while the planned figure is 0.4,” Zhanbyrshin said on Monday, speaking at the government hour in the Majilis.
According to him, oil production worldwide is assessed by the oil recovery factor, which varies up to 0.75. That is, from 9% to 75% of oil is extracted from the geological reserve.
“For example, at fields in China and the USA, the ORF reaches 0.5-0.55, that is, half of the geological oil reserves can be extracted. This figure shows the high-tech nature of oil extraction from the subsoil in these countries,” Zhanbyrshin added.
Photo source: picture from an open source