ASTANA, Kazakhstan, June 17. KazMunayGas (KMG), Kazakhstan’s national oil and gas company, and Sinopec have signed agreements to jointly implement the Berezovsky exploration project in the West Kazakhstan region, Trend reports.
The agreements, signed during a meeting in Astana between Kurmangazy Iskaziyev, First Deputy Chairman of the Management Board of KMG, and Zhao Quanmingen, President of Sinopec-Kazakhstan, outline terms for joint operations and project financing. The partnership will be based on a 50/50 ownership structure, with Sinopec fully financing the exploration phase.
The planned work program includes 2D seismic surveys covering 300 linear kilometers and 3D seismic over an area of 300 square kilometers, along with the drilling of one exploratory well with a projected depth of 7,000 meters.
The Berezovsky site was identified as a promising area by KMG following regional studies and initial 2D seismic work conducted between 2023 and 2024. Located in the northern flank of the Pre-Caspian Basin, the sub-salt formations in this area are situated at significant depths and present complex geological and technical conditions.
“Sinopec brings extensive experience in deep drilling and geological exploration,” said Iskaziyev. “We are confident that the Berezovsky project will be carried out effectively under this partnership.”
Meanwhile, on June 16, Astana hosted the second Central Asia-China Industrial and Investment Cooperation Forum, resulting in 58 commercial agreements totaling more than $24 billion. Key sectors included both traditional and green energy, digitalization, transport infrastructure, agriculture, and high-tech development.