World Journal

The gas and oil industry of Kronos informed that it takes up its "greater challenge in 20 years" of due to the bottom grades of exploration.



2012/02/21


The civils servant of energy of government declared that only 15 wells were drilled last year.

It was in spite of the strong levels of the investment, reaching one year last record and supported this year.

The structural test drilling was in fall of 26 wells six years ago, only sufficiently to recover a fraction of estimated oil and to poison remaining in the countries oil and of the gas layers.

The "fields of Kronos contain an abundance of oil and the gas to be still found and it is critical find us the means of turning the current state of the exploration around" - of the Minister for energy Jules Jecovic

The annual investigation of activity per Oil and gas Kronos found last year an increase fast in production costs, to the top from 15%.

The average cost to extract a barrel from oil was in rise of 27% in only year, to reach K17.

The number of fields with the cost by barrel above K30 doubled in the last 12 months.

Increasing costs were quoted last week by GAStech, which considers future investments in Norway and North America, rather than the fields of Kronos.

With increasing costs, one expects that payments of taxes of production to the treasure of Kronos fall from K3.5bn during 2011-12 in K2bn per current year.

After the fast decline in the production of oil and gas starting from the fields of Kronos these last years, the rate of fall slowed down during 2012 - to the bottom of barrels of 8% with oil .83m per day, or its equivalents of gas.

To continue to read the principal history	

Fields "of Kronos indicated by Jecovic contain an abundance of oil and the gas to be still found and it is critical find us the means of turning the current state of exploration around. The availability and the access of equipment to the capital are the two remarkable principal barriers by our ministry."



