BAKU, Azerbaijan, January 24. Kazakhstan’s JSC NC KazMunayGas (KMG) intends to carry out preparatory work for the start of drilling at the Abay oil and gas block in 2023, Magzum Mirzagaliev, KazMunayGas CEO, said, Trend reports, citing the press service of KMG.
The drilling at the Abay block is planned to commence in sometime in 2024.
The statement was made in the framework of the meeting between KazMunayGas CEO and the heads of its subsidiary organizations.
Mirzagaliev noted that the national company developed a strategy for geological exploration. Further plans include increasing reserves through organic and inorganic growth.
Other plans for 2023 include starting 3D seismic surveys at the Al-Farabi site, starting drilling at the Karaton site, and carrying out a geological survey of subsoil on five promising oil and gas sites.
KMG CEO also highlighted the importance of the new agreement between the national company and the Abu Dhabi Ports Group, which was signed during the visit of President Kassym-Jomart Tokayev to the United Arab Emirates.
“This is a very promising project. In fact, we are talking about creating a large transport and logistics hub in the Caspian region”, Mirzagaliev said.
KazMunayGas is the state-owned oil and gas company of Kazakhstan. It was formed by the decree of the President of Kazakhstan dated 20 February 2002 through the merger of Kazakhoil CJSC and Oil&Gas Transportation CJSC.