Lukoil has signed agreements with KazMunayGas concerning the Kalamkas-Sea, Khazar and Auezov area development project in the Kazakh sector of the Caspian Sea.
ASTANA, Kazakhstan—Lukoil has signed agreements with KazMunayGas concerning the Kalamkas-Sea, Khazar and Auezov area development project in the Kazakh sector of the Caspian Sea.
These define the rights and obligations of the subsoil user during joint development activities in the area and will come into force on completion of the sale and purchase transaction between the two companies.
This will lead to both owning equal shares in Kalamkas-Khazar Operating LLC, the operator for the development.
In late 2021, Lukoil signed a principles agreement on the project and became Kazakhstan's strategic partner in the development of these Caspian offshore subsoil areas.
