The Karakuduk Field is a 16,900-acre oil field in the Republic of Kazakhstan. The government of the former Soviet Union discovered the Karakuduk Field in 1972 and drilled 22 exploratory and development wells, none of which were produced commercially. KKM began to aggressively develop the Karakuduk Field in early 2000, re-establishing oil production from a majority of the existing wells and drilling numerous new wells using a combination of two drilling rigs and a workover rig. KKM intends to fully develop and commercially produce the oil reserves in the Karakuduk Field.As of December 31, 2001, the Karakuduk Field has total estimated proved reserves of approximately 29.9 million barrels, net of government royalty, of which Chaparral has a proportional equity interest in approximately 17.9 million barrels, based upon Chaparral’s 60% equity interest in KKM. The reserve disclosure is based upon a reserve study of the Karakuduk Field conducted by Ryder Scott, including data available subsequent to December 31, 2001.
- Total estimated proved reserves of approximately 29.9 million barrels, net of government royalty.
- Located in western Kazakhstan, 100 miles south of the Tengiz Field.
- Oil has been recovered from the originally identified J-1, J-2, J-4, J-8, and J-9 formations, along with new discoveries in the J-6, J-7 and J-10 horizons.
- Depth to the productive horizons between 8,500 – 10,000 feet.
- Structure at top Jurassic level encompasses approximately 12,000 productive acres.
- The main reservoir rock units are composed of Middle Jurassic sandstones.