Kazakh oil producing company JSC NC KazMunayGas will develop Kazakhstani subsoil plots Kalamkas More, Khazar, Auezov, located in the Kazakh sector of the Caspian Sea, together with Russian partners, Ritmeurasia.org reports.
KazMunayGas and the Russian PJSC LUKOIL signed a number of agreements on the project for the development of the Kalamkas-Sea, Khazar, Auezov subsoil area. The parties signed an agreement of participants, an agreement on the sale and purchase of a 50 percent stake in the authorized capital of Kalamkas-Khazar Operating LLP and an agreement on the conditions for financing the activities of the operator by the participants. As a result of the agreement, LUKOIL became a strategic partner of JSC NC KazMunayGas in the development of this subsoil block on the Caspian shelf.
The documents, signed in early February in Astana, define the rights and obligations of a subsoil user within the framework of joint activities to develop a subsoil plot.
The agreements will come into force after the completion of the sale and purchase transaction between the two companies in order to secure parity shares in the project operator, Kalamkas-Khazar Operating LLP.
CentralasianLIGHT.org
February 13, 2023