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Kazakhstan signs contract with Lukoil for Zhenis block exploration

Oil&Gas Materials 4 April 2019 11:37 (UTC +04:00)

Baku, Azerbaijan, Apr. 4

By Rashid Shirinov – Trend:

Kazakhstan national company KazMunayGas, Russian oil company Lukoil and the Energy Ministry of Kazakhstan have signed a contract for the exploration and hydrocarbon extraction in the Zhenis block in the Kazakhstan sector of the Caspian Sea, Trend reports via Kazakh media.

"In accordance with the signed contract, the main minimum obligations are drilling of one exploration well and carrying out 3D seismic exploration," KazMunayGas said.

The project operator is Zhenis Operating LLP, a joint venture of KazMunayGas and Lukoil.

Zhenis block is located in the southern part of the Kazakhstan sector of the Caspian Sea. In November 2018, KazMunayGas and Lukoil signed agreements on joint activities on and financing of the Zhenis project.

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