Two Kazakh companies have signed a memorandum of understanding which could lead to joint participation in various Caspian Sea blocks.
Offshore staff
ASTANA, Kazakhstan -- Two Kazakh companies have signed a memorandum of understanding which could lead to joint participation in various Caspian Sea blocks. JSC KMG EP (KMG EP) has signed the agreement with JSC NC KazmunaiGas (NC KMG).
It will give KMG EP access to geophysical, economic, and financial data related to various oil and gas projects, including the Kazakh offshore blocks Zhambyl, Utstyurt (Mertvyi Kultuk), Zhenis, Godina, C-1, and C-2. The list of projects could also be expanded.
Askhar Balzhanov, CEO of KMG EP, said: “Signing of the memorandum is an important step in implementation of our strategy which envisages participation in the development of the Caspian Sea as a way to increase the company’s resource base and hydrocarbons production.
“KMG EP possesses the necessary technical and financial resources for carrying out offshore oil operations.”
