KazMunayGas and Lukoil Have Formed an Operator for a Joint Project
The national oil and gas company of Kazakhstan KazMunayGas (KMG) and the Lukoil company are completing the procedures for forming the operator Kalamkas-Khazar Operating LLP of the Caspian offshore production project Kalamkas-Sea, Khazar, Auezov, the KMG press service reported.
According to the press service, the head of KMG Magzum Mirzagaliev held a meeting in Astrakhan with the management of Lukoil, during which the parties discussed the implementation of the joint project “Kalamkas-Sea, Khazar, Auezov”, located on the Caspian Sea shelf.
“We are currently completing the procedures for the formation of the project operator, Kalamkas-Khazar Operating LLP, and by the end of this year we intend to move to the stage of developing project documentation,” Mirzagaliyev noted during the meeting, as quoted by the press service.
Also at the meeting, the prospects for creating a consortium between the companies “KMG Engineering” and “Lukoil-Engineering” for interaction in the field of scientific and technical support of projects were discussed.
In February in Astana, KMG and Lukoil entered into a series of agreements regarding the project for the development of the Kalamkas-Sea, Khazar, Auezov subsoil area in the Caspian Sea. The parties signed an agreement of participants, a purchase and sale agreement for a 50 percent share in the authorized capital of Kalamkas-Khazar Operating LLP (KCO) and an agreement on the terms of financing by participants of the operator’s activities.
Kalamkas-Khazar Operating LLP plans to submit and approve the field development project to the central commission for exploration and development of mineral resources by the end of the current quarter. Earlier, the general director of the company, Kurmangazy Eskaziev, reported that the first production at the Kalamkas-Khazar field is planned to begin at the end of 2028. Production volume is planned at 4 million tons of oil per year. According to the operator company, the total reserves of the Kalamkas-Sea and Khazar areas amount to 81 million tons of oil.
