Lukoil President Vagit Alekperov and KazMunayGas Chairman Sauat Mynbayev have signed a principles agreement concerning the Zhenis license area in the Kazakh sector of the Caspian Sea.
Offshore staff
ASTANA, Kazakhstan – Lukoil President Vagit Alekperov and KazMunayGas Chairman Sauat Mynbayev have signed a principles agreement concerning the Zhenis license area in the Kazakh sector of the Caspian Sea.
The two parties will establish a consortium on completion of relevant procedures for the agreement to enter into force, and will negotiate with a competent authority of the Republic of Kazakhstan to qualify for exploration and production at the block.
Water depths over the Zhenis area range from 75-100 m (246-328 ft): the concession is close to fields with proven hydrocarbon reserves, 80 km (50 mi) offshore and 180 km (112 mi) from the port of Aktau.
