Kazakhstan, Astana, Aug. 6 / Trend D.Mukhtarov /
It is too early to shut down the joint Russian-Kazakh project associated with the development of the Caspian block Kurmangazy, a senior Kazakh oilman said in an exclusive interview with Trend on the condition of anonymity.
"It is early to give up on the Kurmangazy block as the discussions are still ongoing with regards to the prospects of this structure's subsalt deposits," he said.
The source said that to date, there is still only a tentative agreement among the operators on closing the project. The first exploration well drilled in 2006 on the Kurmangazy block on the shelf of the Caspian Sea, which is being jointly developed by Rosneft and KazMunaiGas, was "dry".
"The point is that KazMunayTeniz has undertaken a sufficient amount of exploration work on the upper Mesozoic sediments. Two wells were drilled, seismic surveys carried out, in short, major exploration works undertaken. A report of Kazakh researchers includes data that suggests the possible prospects of subsalt deposits on this block," the source said.
According to the source, the project's operators on the Russian side said that the joint venture should be closed, as they do not believe in the prospects of the Paleozoic sediments.
"Currently, the oil companies are holding discussions with Kazakhstan's Committee of Geology with respect to this report. A final decision will be made upon the completion of these talks on this project's possible closure," the oilman said.
According to him, if Rosneft still refuses to continue its participation in the project to develop the Kurmangazy block, the authorized body of the Russian Federation has to suggest another company for the KazMunaiGas partnership in the project in accordance with the terms of the PSA.
Kurmangazy is one of the largest oil and gas structures in the Caspian Sea located on the dividing line between Russia and Kazakhstan. In accordance with the protocol, it is being developed on a parity basis by both states under the PSA. The Memorandum of Understanding that set out the main proposals of investors about the parameters of cooperation in the framework of the project was signed in August 2002.