KMG, CNOOC to launch large geological exploration project in Kazakhstan
Chairman of the Management Board of JSC NC KazMunayGas Askhat Khassenov has met today Wang Dongjin, Chairman of China National Offshore Oil Corporation International Limited (CNOOC), in Astana, Kazinform News Agency learned from the Kazakh company's press service.
The sides debated the key aspects of the bilateral cooperation and outlined further plans in geological exploration.
The parties also signed a document which determines the main terms of cooperation on a new subsoil use project (Zhylyoi) in Atyrau region.
The companies agreed on a minimum amount of works on the subsoil area, which includes 2D and 3D seismic surveys covering 400 linear kilometers and 400 square kilometers (processing, interpretation, field work); drilling of one post-salt well (independent stage) to a depth of 2,000 meters; based on the results of 3D seismic data, drilling of one sub-salt exploration well (dependent stage) to a depth of 4,500 meters.
According to KMG's preliminary estimates, the geological resource potential of the subsurface area may exceed 185 million tons of oil.
The signing of the main terms of cooperation confirms CNOOC's serious interest in a joint implementation of this project, which opens up new opportunities for both companies in the search for hydrocarbons.
The Chairman of KMG emphasized the importance of this step for Kazakhstan.
"We are confident that the partnership with one of the world's leading energy companies will give a new impetus to the development of Kazakhstan's oil and gas sector, and will also attract foreign investment to our country, since the exploration stage will be financed by the CNOOC," Askhat Khasenov noted.
In August 2024, KMG and CNOOC signed an Agreement of Intent in the field of geological exploration in Beijing.
China National Offshore Oil Corporation (CNOOC) is one of the world's leading companies in the oil and gas industry, specializing in exploration and production. The compan is engaged in the implementation of major projects in more than 20 countries.
Source: en.inform.kz
