CNPC discovers crude oil and natural gas in Kazakhstan

China National Petroleum Corp (CNPC), parent of PetroChina Co Ltd, has discovered crude oil and natural gas in two blocks in Kazakhstan, according to an online statement issued by CNPC.

PetroKazakhstan Inc, CNPC's subsidiary in the country, has drilled three wells in Karaganda and Doshan blocks, of which the Karabulak-2 well in the Karaganda block has an expected crude oil yield of 1,300 barrels per day, while the Doshan-14 well is able to produce 700 barrels a day, and the Doshan-15 well has 173,100 cubic meters of daily gas output.

CNPC acquired PetroKazakhstan for US$4.18 billion in October 2005, and the discoveries indicate good exploration prospects and commercial value in the area, said the statement.

CNPC said the new reserves will help the company realize its goal of double its oil output in Kazakhstan.

PetroKazakhstan's crude oil output exceeded 10 million tons last year, or 200,820 barrels per day.