BAKU, Azerbaijan, June 23. Kazakhstan’s KazMunayGas National Company is looking for a strategic partner for joint implementation of Karaton-Sarkamys, a new subsoil use project, Trend reports citing the company.
Located in Atyrau city, the subsoil area is included in the State Subsoil Fund Management Programme where its coordinates are indicated, and is on the List of subsoil areas intended for hydrocarbon exploration and production or hydrocarbon production to grant subsoil use licenses to national companies.
The requirements to the strategic partner are:
Proof of state registration as a legal entity (an extract from the commercial register or other legalised document certifying that the applicant is a legal entity under the laws of a foreign state).
The Organisation should not be in process of liquidation, reorganisation or bankruptcy.
The Organisation should have no outstanding tax liabilities or other obligatory payments to the national budget.
The Organisation or its Parent Company should have a good track record of subsoil use operations in Kazakhstan and/or abroad:
- 10+ years of experience in commercial production of hydrocarbons; and
- 5+ years of experience in geological exploration (seismic exploration and exploratory drilling); and
- 5+ years of experience in work programme implementation.
Availability of skilled professionals (management) in the Organisation or its Parent Company with 10+ (ten+) years of experience in the oil and gas industry.
The Organisation’s equity should be minimum 200,000,000 (two hundred million) U.S. dollars.
If the Organisation or its Parent Company is on the Forbes list of the World’s Largest Public Oil and Gas Companies (Oil & Gas Operations) (https://www.forbes.com/global2000/list/), Paragraphs 4, 5 and 6 of the Requirements shall not apply.
The Organisation shall commit to provide investment financing for exploration operations under a joint activity agreement (contract) and/or a financing agreement signed to obtain the subsoil use right through direct negotiations in the manner established by the Subsoil and Subsoil Use Code of the Republic of Kazakhstan.
The Organisation shall commit to pay the signature bonus or reimburse the amount of the signature bonus paid by JSC NC “KazMunayGas”. Information on managers, legal entities, individuals, states and international organisations that directly or indirectly control the strategic partner.
Information on previous activities of the strategic partner, including a list of countries in which it has operated for the last three years.
Proof of availability of sufficient funds to carry out a work programme containing the scope, description and deadlines for the work during the exploration period.
The cooperation will be carried out on a Joint Venture basis with KazMunayGas’s share in the project being 50 percent. The minimum work programme shall include drilling of one exploratory well 5,500 meters deep.
Applications from Organisations with enclosed documents to confirm compliance with the Requirements for applicants shall be submitted within 30 (thirty) calendar days following the date of announcement (June 22) on the search for a strategic partner.
Address of JSC NC “KazMunayGas”: 8 D. Kunayev Street, Block B, Emerald Quarter Administrative Building, Yessil District, Nur-Sultan, 010000, Republic of Kazakhstan