Contract signed on exploration, production of oil and gas on Caspian Sea sector

Oil&Gas Materials 3 July 2015 15:06 (UTC +04:00)

Baku, Azerbaijan, July 3

By Elena Kosolapova - Trend:

Kazakhstan's national oil and gas company KazMunaiGas has signed a contract for combined exploration and production on the Dead Kultuk site (Ustyurt), said the website of Kazakhstan Stock Exchange (KASE).

The company informed the KASE about the signing of this contract with an official letter.

Dead Kultuk field is located in the transition zone from shallow waters of the Caspian Sea to the territory of Komsomolets gulf and the surrounding areas on the east coast of the Caspian Sea. The area, where this block is located, is one of most promising for oil and gas production in Kazakh sector of the Caspian Sea.

KazMunaiGas transferred its 50-percent right for subsoil use in the contract on exploration and production of Dead Kultuk block to Caspian Tristar (a group of Kazakh investors) in 2008.

Edited by SI


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