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LUKOIL and KazMunayGas signed principles agreement on Kalamkas-Sea and Khazar project

The Russian company is interested in helping Kazakhstan to develop 2 fields near the giant Kashagan oil project

LUKOIL and KazMunayGas signed principles agreement on Kalamkas-Sea and Khazar project

Source: KazMunayGas

Nur-Sultan, November 16 - Neftegaz.RU. Kazakh President Kassym-Jomart Toka​yev ​held a meeting with President of LUKOIL Vagit Alekperov, who arrived in Nur-Sultan on a working visit.
During his business trip to Kazakhstan, Vagit Alekperov also had meetings with Chairman of the Management Board of KazMunayGas Alik Aidarbayev.

The parties signed principles agreement on Kalamkas-Sea and Khazar project, envisaging further negotiations between the 2 companies to determine detailed terms of the partnership in construction of the fields' facilities.
The total project cost will be about $5 billion.

Kalamkas-Sea is an offshore field discovered in 2002 and located in the northeastern part of the Caspian Sea, near the giant Kashagan field.
The geological reserves of the Kalamkas-Sea field are confined to the Middle Jurassic deposits and amount to 149.5 million tonnes of oil, 15.4 billion m3 of dissolved gas and 15.36 billion m3 of dry gas.
Discovered in 2007, Khazar is also located next to the Kashagan field.

The Russian company has been operating in Kazakhstan since 1995.
LUKOIL and KazMunayGas also collaborate on Karachaganak and Tengiz projects; they also have joint ventures for development of the Zhenis, Al-Farabi, Khvalynskoye and Tsentralnoye fields.

The 2 companies also cooperate within the framework of the Caspian Pipeline Consortium oil transportation project, whre LUKOIL holds a stake of almost 13%.

In 2019, LUKOIL opened a lubricants plant in the Almaty region of Kazakhstan.
The facility’s production range includes 700 lubricants, marketing outlets of the facility spread all over Central Asia.

To read the full story in Russian

Author: Elena Alifirova

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