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KMG EP intends to work in tandem with Malaysian Petronas

Oil&Gas Materials 31 May 2011 12:41
Kazakh company KazMunaiGas Exploration Production (KMG EP) intends to work in tandem with the Malaysian Petronas to develop new fields, KMG EP general director Askar Balzhanov said on Monday.

Kazakhstan, Astana, May 31 / Trend, A. Maratov /

Kazakh company KazMunaiGas Exploration Production (KMG EP) intends to work in tandem with the Malaysian Petronas to develop new fields, KMG EP general director Askar Balzhanov said on Monday.

"With regard to our partnership with the so-called "small tigers", i.e. with companies from South-East Asia, we intend to cooperate with Malaysian Petronas. We have recently signed a memorandum," Balzhanov said.

However, he said, the question is not about geological prospecting work in tandem with Petronas in the territory of Southeast Asia.

"This region of Southeast Asia has been thoroughly studied, even before the Second World War. That is why we see nothing interesting there. But the Malaysian company Petronas works throughout the world, including in Turkmenistan," Balzhanov said.

As it was previously reported, KMG EP has displayed a keen interest in purchasing oil producing assets in Turkmenistan, but so far it has failed to do so.

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