KazMunayGas And Tatneft Will Create A Joint Venture For Geological Exploration At The Karaton Podsolevoy Site
Geological exploration will begin in 2024.
Oil companies KazMunayGas (KMG) and Tatneft will create a joint venture to conduct geological exploration at the Karaton Podsolevoy subsoil site in the Atyrau region of Kazakhstan. This was reported by the KazMunayGas company.
“An agreement on this was reached on February 21, 2024 in Kazan, where KMG and Tatneft signed a purchase and sale agreement (50% of shares in Karaton Operating Ltd.), a shareholders’ agreement and a financing agreement for the Karaton Podsolevoy project,” it says According to the press service.
Geological exploration will begin in 2024.
On Wednesday, President of Kazakhstan Kassym-Jomart Tokayev met with General Director of PJSC Tatneft Nail Maganov in Kazan, where the president is on a working visit. Tokayev highly appreciated Tatneft’s initiatives to develop the Kazakh oil, gas and mining industries, the press service of the head of Kazakhstan reported. According to him, Tatneft is one of Kazakhstan’s strategic partners in the energy industry.
According to the press service of the head of Kazakhstan, Tatneft is implementing a strategic investment project in the petrochemical industry, which is aimed at the production of butadiene and its derivatives in the Atyrau region. The company is collaborating with KazMunayGas on a project for the exploration and production of hydrocarbons in western Kazakhstan. In addition, Tatneft participates in the joint development of solid mineral deposits in the republic.
