PJSC LUKOIL (‘LUKOIL’), the Ministry of Energy of the Republic of Kazakhstan and JSC NC KazMunayGas (‘KazMunayGas’) have concluded a contract for the exploration and development of hydrocarbons on the Zhenis block in the Kazakh Sector of the Caspian Sea Zhenis Operating LLP (a fifty-fifty joint venture between LUKOIL and KazMunayGas) will be operator of the project.
In accordance with the concluded contract main minimal obligations include drilling of one exploration well and a 3D seismic survey.
The new project in the Caspian Sea is an important step in expanding the resource base in the region which has a strategic importance for the Company and where it has accumulated considerable expertise.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/04042019/lukoil-concludes-contract-on-zhenis-block-in-kazakhstan/
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