Kazakh producer Lucent to help revive Borankol gas processing project

Kazakh privately-owned junior producer Lucent Petroleum plans to produce up to 1.7mn cubic metres per day of gas at the Munaybai field in west Kazakhstan and transport it via pipeline to the Borankol gas processing plant, which Kazakh businessman Kenges Rakishev has pledged to commission this year, Kazakh newspaper Kursiv reported on January 30.

The company stated that the infrastructure for collecting, processing, and transporting hydrocarbons would be developed in phases, with peak gas production reaching 1.7 mcm per day. The gas will be sent via pipeline to the Borankol facility for processing and subsequent supply to the Central Asia-Centre (CAC) pipeline running between Central Asia and Russia at the Opornaya compressor station. Stabilised gas condensate will be stored at N&VOG’s tank farm before being transported by rail for sale.

The development of surface facilities and infrastructure at the Munaybai field will be carried out in two stages. The first phase prioritises the construction of surface facilities and a raw gas pipeline at the Bakhyt site to expedite market supply. The second phase, covering the East Munaybai site, will involve building gas and oil processing plants to handle output from both Bakhyt and East Munaybai, as well as oil from East Munaybai. The final layout of all collection and processing infrastructure will be determined during the detailed design stage.

The field development project was designed by the Scientific Research and Design Institute of Oil and Gas. Under the plan, Lucent intends to drill three appraisal wells between 2025 and 2026 to further explore the deposit, with two wells planned for East Munaybai and one for Bakhyt. The Munaybai field is located in the Beineu district of the Mangystau region, with the nearest settlement, Borankul, situated 81 km to the northeast.

Lucent evaluated four development scenarios and selected the second as the most viable. This approach involves drilling 22 wells in total – 18 vertical and four horizontal – along with the reactivation of two existing wells, bringing the total to 24. Cumulative production over the commercial lifespan of the project, from 2024 to 2058, is expected to reach 2.157mn tonnes (15.8mn barrels) of oil and 8.44bn cubic metres of gas, making it the most productive option.

The company's contract grants it exclusive rights to the Munaybai field, with a preparatory period extending until March 12, 2026. The total licence area covers 171.05 square km, including 76.03 square km at Bakhyt and 95.02 square km at East Munaybai. Lucent plans to use diesel fuel and gas for internal needs, including power and heat generation.

Kenges Rakishev, ranked 19th among Kazakhstan’s wealthiest individuals with an estimated fortune of $435mn, announced plans in late 2024 to relaunch the previously mothballed Borankol gas plant in 2025. The Borankol and Tolkun fields were originally developed by Tristan Oil Ltd, a company controlled by Moldovan businessman Anatol Stati. In 2008, Kazakh authorities accused Stati of tax evasion and illicit profits, and in 2010, the government terminated the contract and transferred the fields to KazMunaiTengiz, a subsidiary of KazMunaiGas.

Lucent Petroleum also unveiled plans at the end of 2024 to commence commercial oil production at the Lebyazhye field, located in the Mangystau and Atyrau regions. The company is fully owned by Kazakhstan’s Fortune Oil, led by Duncan MacDougall. Fortune Oil is a subsidiary of Cyprus-based Lucent Oil & Gas Limited and Kazakhstan’s Vision Energy Services, which in turn is controlled by the Netherlands-registered HTM Vision Services BV, headed by David Milne Le Clair.

The Development Bank of Kazakhstan had reviewed a loan application from Lucent Petroleum to fund Munaybai’s development and the construction of a gas processing plant in the Atyrau region. The company’s listed beneficiaries included Aidan Karibzhanov, ranked 45th among Kazakhstan’s richest individuals with a net worth of $198mn, along with Gulzhamash Zaitbekova, Almas Chukin, Aigul Nurmakhanova, Aybar Burkitbayev and Michael Sauer. However, the project did not appear on the list of approved financing applications.