Due to the Caspian Sea Shallowing KazMunayGas and LUKOIL Will Build a Canal
A “one-time” passage is necessary for the development of the Kalamkas-Sea and Khazar hydrocarbon fields. KazMunayGas and LUKOIL will build a canal in the Caspian Sea to develop the Kalamkas-Sea and Khazar fields. This will have to be done due to the drop in the Caspian Sea level. Thus, the …
LUKOIL Faces Logistics Challenge in Kazakhstan Project Due to Caspian Sea Shallowness
KazMunayGas (“KMG“) and LUKOIL will build a channel in the Caspian Sea to develop the Kalamkas-Sea and Khazar fields. This is stated in the project participants’ environmental impact assessment report. The contract area is located in the Kazakh sector of the Caspian Sea, 120 km southwest of the Kashagan field. …
Kazakhstan to Launch Large-Scale Offshore Project
In 2026, construction of offshore platforms will begin for the joint venture of KazMunayGas and LUKOIL. In Kazakhstan, development of the Kalamkas-Sea and Khazar offshore oil and gas fields is beginning. The project is planned to attract more than $6 billion in direct investment. Up to 2,000 new jobs will …
The Cost of LUKOIL’s Purchase of 50% in Kalamkas-Khazar Operating LLP Amounted to $200 Million
PJSC LUKOIL, which last year acquired 50% of Kalamkas-Khazar Operating LLP (KCO), paid $200 million for this share, according to the annual report of KazMunayGas (KMG). “On February 9, 2023, the company and PJSC LUKOIL signed a purchase and sale agreement for a 50% share in the authorized capital of …