KAZAKHSTAN - Offshore Exploration.
LUKoil was expecting a deal to be signed between TsentrKaspNefteGaz and KMG on the basic principles of developing structures in the central zone of the Caspian Sea (on the Russian side). TsentrKaspNefteGaz is a 50/50 JV of Gazprom and LUKoil.
LUKoil-Shelf has drilled an exploration well on the Tyub-Karagan block in the Kazakh sector of the Caspian. This is being developed jointly with KMG. LUKoil is also exploring the Atashsky block in the northern Caspian
At the same time, the state-owned Russian oil firm Rosneft and KMG finally agreed on the terms of a PSA for the offshore Kurmangazy field which lies in a shared part of the Caspian. It reserves have been put at more than 7 bn barrels of oil equivalent.
In late 2005, KMG and Statoil of Norway signed a JV agreement to explore and develop the Abaya area in the Caspian. A South Korean group of firms led by the state-owned KNOC in 2004 formed a JV with KMG to explore and develop the Zhambyl structure in the Kazakh sector of the Caspian, and the onshore Tenge field which is said to contain 100m barrels of oil.
|Printer friendly Cite/link Email Feedback|
|Publication:||APS Review Gas Market Trends|
|Date:||Jul 24, 2006|
|Previous Article:||KAZAKHSTAN - E&P Background & Exploration.|
|Next Article:||KAZAKHSTAN - The Kashagan Field.|