Kazakhstan, Russia discuss joint co-op on oil field in Caspian

ASTANA, Kazakhstan, August 19. KazMunayGas,
Kazakhstan’s national oil and gas company, and Russia’s Lukoil have
reached the final stage of an agreement on corporate procedures for
the sale of 50 percent of the share of Kalamkas-Khazar Operating
LLP in favor of Lukoil, Trend reports.

The issue was discussed during the meeting between Magzum
Mirzagaliyev, Chairman of the Management Board of KazMunayGas, and
the Lukoil management.

During the talks, the parties discussed topical issues of
cooperation and promising areas of work, as well as exchanged views
on joint activities on the project “Kalamkas-Sea, Khazar, Auezov”,
located on the shelf of the Caspian Sea.

“I am pleased to note the complete mutual understanding and the
absence of any controversial points in the negotiating positions of
the parties. I am sure that our cooperation will be just as
fruitful at the stage of the project implementation,” Mirzagaliyev
said during the meeting.

In February 2023, KazMunayGas and Russian energy corporation
Lukoil agreed on the joint development of the Kalamkas-Sea, Khazar,
Auezov subsoil in the Kazakhstani sector of the Caspian Sea.

The operator of the project, Kalamkas-Khazar Operating LLP,
plans to submit and approve a Project for the development of
deposits at the CCRR of the Republic of Kazakhstan in the third
quarter of 2023.