LUKOIL to Launch Another Project in Kazakhstan
LUKOIL, Russia’s 2-nd largest oil company, will add another project in Kazakhstan to its portfolio, said Kurmangazy Iskaziyev, Deputy Chairman of the Management Board for Exploration, Production and Oilfield Services at Kazakhstan’s state company KazMunaiGas, Trend reports. Iskaziyev made the remarks at the 26th International Caspian Oil & Gas Conference in Baku, …
Kazakhstan: A Market of Possibilities for Russian Oilfield Service Companies
In August, 2016 the Ministry of Energy of Kazakhstan shared its plans for abandonment of 126 offshore Caspian wells before 2019. And this is just the tip of the issue. The majority of the countries land wells are out-of-date and their rate of decline is accelerating. In Kazakhstan, it is …
LukOil to sell stake in Caspian Investment
LukOil has agreed to sell its 50% stake in Caspian Investment Resources Ltd to China’s Sinopec for around $1.2bn, subject to adjustments at closing. Caspian Investment Resources, through a number of joint ventures, owns various stakes in four hydrocarbon-production projects in Kazakhstan. LukOil’s share in commercial hydrocarbon production as part …