QazaqGaz and CNPC Signed a Contract for the Development of the Severnoye-1 Subsoil Block in Kazakhstan
On April 15, the Ministry of Energy of Kazakhstan hosted the signing of a contract for the exploration and production of hydrocarbons at the Severnoye-1 subsoil block in the Aktobe Region.
This was reported by the ministry’s press service.
The document was signed by Vice Minister of Energy E. Akbarov, Deputy Chairman of the Management Board of QazaqGaz A. Dauletov, and General Director of CNPC-Aktobemunaigas Zhu Shitao. It is noted that the contract reflects the progressive development of interstate economic cooperation and confirms mutual interest in further strengthening and expanding bilateral ties.
Within the framework of the subsoil use contract, the following is provided for:
The total volume of investments in exploration activities will amount to 3.5 billion tenge (approximately 7.3 million United States dollars).
The Severnoye-1 subsoil block:
- is located in the Aktobe Region;
- is characterised by high potential in terms of discovering new hydrocarbon reserves;
- borders the Bulashskoye field in the Mugalzhar District and the Bozoba field in the Temir District of the Aktobe Region;
- in these neighbouring subsoil areas, deposits of the Devonian period of the Paleozoic era are of interest, therefore similar formations may also be перспективны at the Severnoye-1 block.
It should be recalled that in June 2025, QazaqGaz and CNPC signed an agreement to conduct joint exploration activities at the Severnoye-1 field. The document was signed on the terms of 100% carry financing by the partner, meaning that the Chinese side was expected to cover all costs at the initial stages of the project, reducing risks for the Kazakh company. However, later CNPC-Aktobemunaigas will receive a significant carry percentage from the project profits, which may amount to 10–20%.
In November 2026, the parties signed two more documents within the project:
- an agreement on joint activities at the Severnoye-1 subsoil block;
- an agreement on financing the exploration phase until approval of the development project and transition to commercial production.
It should be recalled that QazaqGaz has intensified exploration projects in line with the relevant instruction of President K.-J. Tokayev. The goal is to strengthen Kazakhstan’s long-term energy security. In 2026, Kazakhstan plans to include 25 new prospective blocks in the state subsoil fund management programme and thereby increase the resource potential of natural gas.
